The potential bid by Wesfarmers (ASX:WES) for 65 per cent of Burrup Fertisilers has been pulled up by the Australian Competition and Consumer Commission.
The ACCC has warned that the possible acquisition may raise competition concerns for the supply of ammonium nitrate in Western Australia.
Burrup’s receivers are reportedly racing to finalise bids for the business by the end of the month, and five serious players, also including China’s biggest fertiliser importer Sinofert, and Norway’s Yara International have emerged as likely acquirers.
In the first six months of the 2011 financial year, Wesfarmers booked a net profit of $1.2 billion.
