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ACCC opposes Caltex's acquisition of Mobil sites

ACCC opposes Caltex's acquisition of Mobil sites

The ACCC has announced it will oppose the acquisition of Mobil Oil Australia’s retail assets by Caltex Australia (ASX:CTX).

The proposed merger, which was announced in March, would have seen Caltex take ownership of 302 Mobil service stations.

But the ACCC determined that the acquisition would substantially lessen competition in 53 sites served by Mobil service stations.

Caltex CEO Julian Segal said the company would consider its position, and “will then determine what action to take in response to the announcement.”

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Tags accccaltexMobilMergers and acquisitions

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