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ACCC not to oppose Bluescope Steel Ltd's proposed acquisition of Orrcon Steel

Wednesday, 4 Dec 2013 05:41pm EST 

Australian Competition and Consumer Commission (ACCC):Says that it will not oppose BlueScope Steel Ltd's proposed acquisition of the Orrcon Steel business from Hills Holdings Limited.Says that ACCC considered whether BlueScope would have an increased ability and incentive to affect the supply of key inputs to both rival pipe and tube manufacturers and also rival steel and tube distributors.Says that ACCC concluded that rival manufacturers would likely be able to bypass BlueScope in the event of a foreclosure strategy by increasing the number of imported pipe and tube inputs they acquire.Says that ACCC formed the view that rival steel and tube distributors would continue to have alternatives to BlueScope in the supply of pipe and tube products, principally from manufacturer Australian Tube Mills and also through imports. 

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