Zoetis-Jurox merger questions
The competition watchdog wants feedback from customers and the animal health business community about a divestment undertaking from US industry giant, Zoetis, in relation to its proposed takeover of rival Australian company, Jurox.
In February the ACCC flagged preliminary concerns with the proposed acquisition which would remove one of Zoetis' closest competitors in markets which is already highly concentrated.
Both Zoetis and family-owned Jurox develop, make and sell products which detect, prevent, and treat companion and production animals, notably intramammary antibiotics for cows, teat sealants for cows and parasiticides for sheep.
Following consultation with the parties the ACCC has since decided takeover is unlikely to substantially lessen competition in supply of sheep parasiticides or various companion animal products to veterinarians, but to address ACCC concerns, Zoetis has offered to divest rights to Jurox's intramammary antibiotics to an approved purchaser.
These products include Jurox's Ampiclox LC and DC, Juraclox LA, Maxalac LC and DC and the U-Seal range.
The ACCC wants submissions on the proposed undertaking by August 25, but has noted its public consultation should not be viewed as a signal that it will not oppose the deal.
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AWN expands to Tatura
Farm services group AWN has bought the northern Victorian livestock agency, Mulcahy Nelson in Tatura, re-naming it AWN Nelson Livestock.
The move strategically positions the growing agribusiness in a key growth region which is set to see AWN sharing the spotlight with another local agency as the largest livestock seller at Shepparton livestock exchange.
AWN chief operating officer, Rick Maybury, said that the acquisition was an excellent fit for the business.
"There is an incredible amount of opportunity in Australian agriculture off the back of phenomenal seasonal conditions in many areas in recent years, coupled with the increasing demand for food and fibre and as a pure-play agri-services business, we look forward to accessing these opportunities as we continue to expand."
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New Rumin8 directors
Australian stockfeed technology company, Rumin8, has appointed, Sentient Impact Group chief executive officer, Oliver Yates, and Perth businesswoman, Samantha Tough, to its board.
Rumin8 is pioneering a unique pharmaceutical process to create feed additives to radically reduce enteric methane emissions from livestock.
The company noted skills Mr Yates and Ms Tough had would be crucial as it progresses its research and development and product commercialisation programs.
Prior to joining Sentient, Mr Yates was inaugural CEO of the Clean Energy Finance Corporation, Australia's $10 billion government-backed Green Bank, and also spent 20-plus years as an executive director with Macquarie Bank leading initiatives in wind, solar, biofuels, CO2 credits and other renewables businesses.
Ms Tough has a broad career in the energy, resources, engineering and agriculture sectors and is currently a pro vice chancellor at the University of Western Australia and chair of Horizon Power.
She also has board seats at the Clean Energy Finance Corporation, Fluence and Mineral Carbonation.
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