Competition Law Discussion Group presentation about the ACCC’s authorisation of the Linfox/Prosegur merger

Luke Wainscoat and Nick Twort recently gave a presentation to the Competition Law Discussion Group about the ACCC’s authorisation of the Linfox/Prosegur merger. Prior to the merger, Linfox and Prosegur were the two major providers of national cash-in-transit services in Australia.

The ACCC’s decision was noteworthy for several reasons, including:

• the ACCC accepted the ‘failing firm’ defence;
• the ACCC created a ‘failing firm offence’;
• the ACCC accepted a behavioural undertaking on a merger; and
• the ACCC was not satisfied that the merger would not have the effect or likely effect of substantially lessening competition, but allowed the merger on public benefits grounds.

The presentation sets out the background facts, the factual/counterfactual competition analysis, the ACCC’s assessment of benefits and how it weighed the benefits and detriments of the merger.

Luke and Nick’s presentation is available here.

Greg Houston also prepared a report on the merger on behalf of NCR Group, a customer of the merger parties.

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