South Africa Case Law

Murray & Roberts Holdings Limited v Aton GMBH and Another (166/CAC/Jul18)

Murray & Roberts Holdings Limited v Aton GMBH and Another (166/CAC/Jul18) [2018] ZACAC 7; [2018] 2 CPLR 519 (CAC) (28 October 2018)

Court

Competition Appeal Court

Case number

166/CAC/Jul18

Judges

Davis JP, Victor JA

Section 13A(3) of the Competition Act prohibits the implementation of a merger, meaning the exercise of control as defined in section 12, prior to approval by the competition authorities. The mere acquisition and voting of shares by a shareholder who has announced a firm intention to acquire control does not amount to implementation unless such voting confers control as defined by the Act. The Goldfields precedent is limited to situations where de facto control is acquired and exercised, not to the voting of shares absent control. In this case, Aton did not possess sufficient voting power to…

Source excerpt

• Merger Control
• Implementation Prohibition
• De Facto Control
• Voting Rights
• Hostile Takeover
• Competition Act Interpretation

Imperial Holdings Limited and Imperilog Limited (22/LM/Apr02)

Imperial Holdings Limited and Imperilog Limited (22/LM/Apr02) [2002] ZACT 31 (3 May 2002)

Court

Competition Tribunal

Case number

22/LM/Apr02

Judges

N.M. Manoim, U. Bhoola, P. Maponya

The Competition Tribunal approved Imperial Holdings’ re-acquisition of shares in Imperilog without conditions, finding no substantial lessening of competition or public interest concern.

• Large Merger Review
• Market Concentration
• De Facto Control
• De Jure Control
• Public Interest
• Logistics Services