ACCC seeks court injunction over Franklins / Metcash merger

Posted by AFN Staff Writers on 14th September 2011

The Australian Competition and Consumer Commission (ACCC) has applied to the Federal Court for an interim injunction restraining Metcash’s proposed acquisition of the Franklins supermarket chain.

The ACCC was given notice on Sunday 11 September by Metcash that after the expiry of five business days Metcash considers itself free to agree with Pick n Pay to waive the condition requiring ACCC approval for its proposed acquisition of the Franklins supermarket business.

In a statement, the ACCC said it has applied for the injunction “in order to preserve the existing state of affairs until the appeal is heard and determined”.

The ACCC has lodged an appeal against a Federal Court decision to allow Metcash to acquire the Franklins supermarket chain.