Further to announcements by InvoCare Limited (“Company” or “InvoCare”) on 19 November 2010 and 22 December 2010, in accordance with its standard merger review process guidelines, the Australian Competition & Consumer Commission (“ACCC”) yesterday released a Statement of Issues (“SOI”) following its initial market enquiries into the Company’s proposed purchase of Bledisloe Group Holdings Pty Limited (“Bledisloe”).
The SOI published by the ACCC is not a final decision about the proposed acquisition.
Rather, it provides the ACCC’s preliminary views and seeks further information on certain competition issues which have arisen from the ACCC’s market enquiries to date.
The SOI is publicly available on the ACCC’s website, www.accc.gov.au/mergersregister.
The ACCC has commenced a second phase of its review and has invited interested parties to make further submissions in relation to the issues identified in the SOI by no later than 4 February 2011. Both InvoCare and Bledisloe are considering the SOI and will provide further information to the ACCC to support its review process.
The ACCC’s final decision is now expected on 3 March 2011. However, this date is indicative only and is subject to change by the ACCC.
The Company’s results for the 2010 financial year are expected to be announced to the market on 22 February 2011. The Company will provide an update on any known progress of the ACCC review process at that time.
For immediate release
For details, contact Andrew Smith, Chief Executive Officer and Managing Director on +61 2 9978 5207 or email@example.com