The latest announcement is out from Woolworths Group Ltd ( (AU:WOW) ).
The Australian Competition and Consumer Commission (ACCC) has decided not to oppose Woolworths Group Ltd’s proposed acquisition of Beak & Johnston Holdings Pty Ltd, which will result in Woolworths owning 100% of B&J’s subsidiaries. The ACCC’s investigation concluded that the acquisition is unlikely to substantially lessen competition in the market, as rival ready meal producers will still have access to other distribution channels and retailers. The acquisition includes several B&J brands, but excludes Beak & Johnston Pty Ltd, which will remain independent. The New Zealand Commerce Commission is also reviewing the acquisition.
More about Woolworths Group Ltd
Woolworths Group Ltd is Australia’s largest grocery retailer, primarily operating supermarkets where it sells a variety of products, including chilled and frozen ready meals. The company holds a significant position in the retail industry, focusing on providing a wide range of grocery items to consumers.
YTD Price Performance: 18.03%
Average Trading Volume: 1,487
Technical Sentiment Signal: Hold
Current Market Cap: $22.78B
Learn more about WOW stock on TipRanks’ Stock Analysis page.