The decision was announced via a statement on the ASX this morning and cited "it is the parties view that offering the material concessions to the ACCC which are likely to be required to ultimately allow the proposed merger to proceed would adversely compromise the overall merits of the transaction".
APN Outdoor and oOh!media have called off their merger, which would have created a billboard advertising group with a market capitalisation of $1.6 billion.
Both APN Outdoor Group and oOh!media disagree with ACCC's views and say the commercial reality of the proposed merger would be appropriate, as it would enhance the development of out-of-home advertising in Australia.
If the merger were to have gone ahead, the newly formed company would have controlled over 50 per cent of the market, including highly prized sites in Sydney and Melbourne, including worldwide airports.
It's believed other OOH operators had petitioned the ACCC sighting the un-competitive nature of any merger.
The ACCC was to hand down its final verdict on July 6th, although that will no longer happen.
OOh!Media and APN Outdoor Group first announced the merger in December a year ago as part of a plan to create a leading and diversified out-of-home and online media business in both Australia and New Zealand.
"Many industry participants have competition concerns in relation to the merger".
The ACCC also took issue with how the reduction in competition could lead to an increase in prices for advertisers and/or a lower level of service, whilst also impacting site owners who rely on competition between the big providers of advertising.
So, it would appear the two protagonists simply made a decision to fall on their respective swords than wait for the bad news in six weeks' time.
The man responsible for the system, Qatar University's Dr Saud Ghani, said he believed Khalifa represented a world- first. As part of its revamp, Khalifa includes technology that will provide air-conditioning for fans.
In Parliament, lawmakers were debating the measures that include additional pension cuts in 2019 and higher income taxes in 2020. With all opposition parties opposed to the measures, Tsipras is relying on his three-seat majority in the 300-member parliament.
The accelerated approval for frontline Keytruda in urothelial carcinoma is contingent on the results of a confirmatory trial. The median age for the first 100 patients was 75 years (range, 44-94), and 87 percent had visceral metastases at baseline.
Attorneys: Patrick Cotter , who served the Eastern District of NY ; and Renato Marrioti , who served the Northern District of IL . With the news of the Comey memo, Democrats have increased their talks about impeaching Trump.
Jose Mourinho believes it will be a successful season for Manchester United , even if they don't win the Europa League. Their league finishes on Sunday - they have 12 days to prepare, and we have three league matches to play.
Jurors are deliberating in the manslaughter trial of an Oklahoma police officer who fatally shot an unarmed black man past year . The defense was allowed to introduce testimony showing Crutcher did not comply with officers' commands in prior incidents.
The company reported $0.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.79 by $0.02. For KMX, the company now has $418.77 Million of cash on the books, which is offset by $343.27 Million current liabilities.
The other apparent repercussion is the money lost in the form of squandered productivity and potential flight delays. Both sides said they meant to hold more talks next week in Washington on a possible ban of such equipment.
Also, TN SSLC revaluation procedure, fees, and last date details will be announced today after the release of 10th exam results. The TN Educational Board announced that they will release the TN SSLC Results on May 19th at 10 AM on the official website.
Almost 90 percent of McDonald's 14,000 USA restaurants are independently owned and operated by businessmen and women. The product, which the company offered in 2012, will be available nationwide from May 24 through September 11.
Bank of America Corporation (NYSE:BAC) Analytical Analysis
It is positive, as 62 investors sold BAC shares while 560 reduced holdings. 207 funds opened positions while 479 raised stakes. Shares of Bank of America Corp (NYSE: BAC ) traded down 0.29% during midday trading on Tuesday, hitting $23.99. (NYSE:LVS).
North Korea poses threat to China, Russia: US admiral
The Hwasong-12 test launch occurred in the early hours of Sunday, May 14, from the town of Kusong near North Korea's west coast. But a senior North Korean diplomat has said Pyongyang is open to talks with Washington under the right conditions.
Soundgarden singer Cornell killed himself by hanging
Reached by phone, the Detroit Police Department tells NPR that Cornell was found at 12:05 a.m.at the MGM Grand Detroit . In the early 2000s, Cornell started the group Audioslave , which featured members of Rage Against the Machine .
Derby winner an early favorite for the Preakness
The Kentucky Derby victor has taken 10 of the past 20 Preakness Stakes, with horses who lost in the Derby winning seven times. Always Dreaming is the early 4-5 favorite for the race Saturday at Pimlico, where hell break from the No. 4 post.
Kushners kin woo investors in China, offer green card in
Authorities said the key suspects in the case helped wealthy Chinese obtain USA residency visas in exchange for bogus investments. However, Trump actually signed an extension of the controversial visa program just one day before the event in Beijing was held.
Car drives into crowd in Times Square, injuring several
Witnesses reported that he drove the wrong way and on a sidewalk for at least three blocks, mowing down pedestrians. Emergency response crews, including ambulances and fire trucks, were on the scene, which had been cordoned off.
Confederate statue removal historic
The effort to remove the New Orleans monuments is part of larger controversy surrounding Confederate symbols in cities nationwide. The monument, like other statues of Southern Civil War leaders, has come under increasing fire in recent years from protesters.
Trump Administration Announces Plans to Renegotiate NAFTA
Trump has invoked the trade gap to argue that naive American policymakers had been out-negotiated by their Mexican counterparts. President Trump gave formal notice Thursday he will renegotiate NAFTA, the free trade deal between the US, Canada and Mexico.
Warriors rout Spurs 136-100, take 2-0 series lead
Starting center Zaza Pachulia was scheduled for an MRI exam Wednesday on his bruised right heel after an X-ray was negative. So, call it like it is. "So LaMarcus was a huge opportunity for us to try to convince him to come". "That's how we feel".