The Competition Commission has blocked JSE-listed Jasco’s proposed acquisition of a 65.4% stake in Cross Fire Management on the basis that the R52.3-million merger is likely to result in a consolidation of the market in Gauteng and the Western Cape. The now-prohibited proposed deal was announced in March, when Jasco aimed to merge subsidiary Jasco Fire with Cross Fire, bolstering Jasco’s existing fire solutions portfolio in the blue-chip corporate market and lifting it into the top three suppliers of fire detection, suppression and protection solutions in various industries.
Source: www.engineeringnews.co.za
Competition Commission prohibits Jasco’s acquisition of Cross Fire
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