MICHAEL AVERY: Tribunal puts a pox on Patel’s public interest conditions
It is hard to say how many firms were put off acquiring SA businesses by long merger reviews or prospect of hijacking
In a welcome development for business, the Competition Tribunal has finally provided valuable insights into the application of public interest conditions in mergers. These conditions, outlined in the Competition Act, have gained a worrying prominence in recent years, leading to a surge in their implementation.
A closer examination of this trend reveals the growing influence of the department of trade, industry and competition (DTIC) and the Competition Commission, particularly since the introduction of trade, industry & competition minister Ebrahim Patel’s “Policy Statement on localisation for jobs and industrial growth” in May 2021...
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