Last Friday was a busy day for corporate activity in SA. First came the news that PepsiCo has made an offer to buy Pioneer Foods in a deal worth more than R24bn. In a country that yearns for foreign direct investment, this has been hailed as a vote of confidence in the country.

Later the same the day, the Competition Commission announced its decision to block German firm Aton’s acquisition of Murray & Roberts (M&R). This brings to a halt Aton’s hostile takeover of M&R...

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