A pitch from supermarket giant Woolworths to allay competition concerns over its $550 million acquisition of food services company PFD has raised eyebrows with competition tsar Rod Sims who says similar plans have been difficult to enforce.
The regulator said the undertaking was behavioural in nature, rather than requiring Woolworths and PFD to take certain actions. These sorts of undertakings have been historically difficult to enforce, Mr Sims said. “There’s this question of how do you monitor them? If there are three Woolworths people on the PFD board, how do you monitor that successfully? We’ve certainly had issues with behavioural undertakings,” he said.
PFD would also be required to implement a charter when dealing with suppliers requiring the business to act in good faith and with confidentiality, in line with the Food and Grocery Code of Conduct. This requirement would be in place for five years.
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: newscomauHQ - 🏆 9. / 77 Read more »
The Star unveils Crown merger plans to create $12b gambling giantThe Star Entertainment Group has plans to merge with James Packer&x27;s Crown Resorts to create a massive $12 billion gambling giant. Because that will be good for society
Source: 9NewsAUS - 🏆 10. / 72 Read more »
Source: abcnews - 🏆 5. / 83 Read more »