date:Jun 07, 2013
The Australian Competition and Consumer Commission said the proposed deal would have removed a strong opponent for Heinz, itself the subject of a $23.2 billion takeover bid from Warren Buffett's Berkshire Hathaway Inc and Brazilian financier Jorge Paulo Lemann's private equity firm 3G Capital.
The proposed acquisition would combine the two largest suppliers of wet and dry infant food in Australia, resulting in highly concentrated markets where barriers to entry and expansion are high, Australia