Metro Performance Glass (ASX:MPP, NZE:MPG) said New Zealand's Commerce Commission released a statement of issues relating to the application from Viridian NZ Bidco to acquire 100% of Metro Glass, identifying potential issues due to a loss of competition between Viridian and Metro in the glass processing, supply, and installation markets, according to a Friday filing with the New Zealand and Australian bourses.
The statement is not a final decision and does not mean that the regulator intends to decline or clear the merger, per the filing.
The statement will be published on the Commission's case register and will outline the potential issues with the acquisition following the Commission's initial investigation. It will invite submissions from Viridian, Metro, and any other interested parties.
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