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ACCC not to oppose Elders bid for the EG Green Group

The Australian Competition and Consumer Commission will not oppose a bid for the EG Green Group by a joint venture between Elders Ltd and T&R Pastoral Ltd, ACCC chairman Graeme Samuel said yesterday.
"The ACCC's key concern was that buying EG Green might facilitate Elders requiring cattle farmers to use it as an agent if they wished to have their cattle processed at EG Green", Mr Samuel said. "Such a requirement could affect competition between livestock agents in Western Australia.
"However, the ACCC is satisfied that Elders would be constrained from imposing such a requirement by the potential for farmers to respond by switching to other abattoirs or live cattle exporters.
"The ACCC was also concerned that the proposed acquisition might facilitate Elders requiring cattle farmers to have their cattle slaughtered at EG Green's if they wished to use Elders as an agent.
"Such a requirement could affect competition between abattoirs in Western Australia.
"However, the ACCC was satisfied that Elders would be constrained from imposing such a requirement by the potential for farmers to respond by switching to other agents, or by not using an agent at all".
EG Green, which operates the largest abattoir in Western Australia, is being sold after going into administration earlier this year. Elders is a major livestock agent in WA. T&R Pastoral operates a major abattoir in South Australia.

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Elders (ELD)

Share Price

Closing price for the last 90 trading days
Source: Morningstar

Total Shareholder Return as at 29/03/18

1 year TSR5 year TSR
148thElders68%51%
716 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Revenue

th-Elders$1,599.8m
77 listed non wa companies ranked by revenue.
Source: Morningstar

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