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Friday, March 29, 2024

SMC-Holcim merger not under review yet

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The Philippine Competition Commission said Friday it has not received a notification for the mandatory review of the proposed merger of San Miguel Corp.  and Holcim Philippines Inc.

The commission reminded merging companies that meet the notification thresholds to inform the Commission of their transaction within 30 days from signing of their definitive agreement.

As the country’s antitrust body, the commission is mandated under the Philippine Competition Act to review mergers and acquisitions to ensure these deals will not harm the interest of consumers. 

The agency also clarified that the review of the SMC-Holcim transaction was different from the ongoing investigation on a possible cartel in the cement industry. 

Unlike cartel investigations which look into past conducts, merger reviews are carried out to determine any competition concerns before the transaction is consummated to prevent potential damage to consumers.

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