2202 GMT - Jefferies doesn't expect the largest acquisition in rural-services provider Elders's history to run into big antitrust issues. The Australian Competition & Consumer Commission has yet to approve Elders's purchase of Delta Agribusiness for a A$475 million enterprise value. "We're confident there won't be a substantial lessening of competition finding," analyst John Campbell says. Jefferies estimates Elders has a 9% national share of agricultural general merchandise outlets, and 15% if independent members are included. Delta has a 2% share. Any issue could be solved with minor asset sales, says Jefferies. It notes Elders's share of other verticals is higher, such as 10% of cattle agency sales and 20% of wool sales. "Acquiring Delta shouldn't materially impact these verticals given Delta's a very small participant in livestock marketing and not a participant in wool," Jefferies says. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
March 04, 2025 17:02 ET (22:02 GMT)
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