ACCC to consider Santos' new proposal to acquire QGC.

0 Comments | M2 Presswire, January, 2007

M2 PRESSWIRE-31 January 2007-ACCC: ACCC to consider Santos' new proposal to acquire QGC(C)1994-2007 M2 COMMUNICATIONS LTD RDATE:31012007 The Australian Competition and Consumer Commission notes the announcement by Santos to the ASX yesterday regarding a new proposal to acquire Queensland Gas Company Limited, ACCC Chairman, Mr Graeme Samuel, said today.

As a result the ACCC will not make a formal decision on Santos' previous takeover proposal. "The ACCC has conducted inquiries into the previous takeover proposal. The market submissions received following the release of the Statement of Issues raised a number of serious competition concerns," he said. The ACCC will now consider the new proposal as announced by Santos. The ACCC invites submissions...