CAXTON AND MPACT
Caxton’s tortuous takeover battle
Caxton’s stealthy bid to take over Mpact hinges on a potentially hefty competition fine — which is why this tussle for control is being kept so low-key
“Ex Caxtonia, semper aliquid novi”; out of Caxton there’s always something new, as Pliny the Elder did not say back in the first century. But it’s very likely something an early 21st-century Competition Commission official might cry out, in exasperation.
Caxton probably has more familiarity with competition law than just about any other company in SA, including giants such as Sasol, Anglo or Telkom. This familiarity comes not so much from being involved in a huge amount of merger activity or being the subject of competition investigations but more from intervening in third party, particularly Naspers-related, competitive situations...