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Australia: ACCC gives nod for Recall $2.5 billion takeover

By  |  March 31, 2016

The competition watchdog has cleared US-based Iron Mountain’s takeover of records manager Recall Holdings after the suitor vowed to offload a bulk of its Australian assets.

The Australian Competition and Consumer Commission said it had received a court enforceable undertaking from Iron Mountain to sell most of its Australian business.

The ACCC in December said the $2.6 billion takeover would see the country’s two largest providers of physical document management services rolled into one, with a market share of 59 to 71 per cent.

But Iron Mountain responded by moving to divest its entire Australian business, other than its local records management customers in the Northern Territory and its data protection business.

Full Content: NT News

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