AusRAIL, Market Sectors

ACCC delay suggests Toll is closing in on Patrick

<p>Toll Holdings appears to be close to gaining clearance from the Australian Competition and Consumer Commission for its hostile $4.6bn for Patrick Corporation, but a final decision is still about a fortnight away.</p> <p>Analysts are tipping the ACCC will approve the deal.</p> <p>Yesterday (Tuesday, December 20), the commission postponed a decision, which had been due today. </p> <p>In a statement on its website, the regulator said a final decision would be made as early as possible in January. </p> <p>The commission said the final decision is to be made as early as possible, in January, to allow for ACCC to consider industry stakeholder responses to consultation on Toll’s proposed undertaking lodged on December 12.</p> <p>A Toll spokesperson said that Toll was engaged in an on-going and constructive discussion with the ACCC as part of the regulatory approval process. </p> <br />