Recall takeover gets green light

Company News

The proposed acquisition of Recall Holdings (ASX:REC) by Iron Mountain Incorporated has been given the green light by the ACCC.
 
The competition authorities said it will not oppose the proposed acquisition of Recall after accepting a court enforceable undertaking by Iron Mountain to divest most of its Australian business. 
 
ACCC chairman Rod Sims said that by combining the two companies, the proposed acquisition could have left consumers vulnerable to price increases or reduced service levels in a market where there are high costs to switch providers. 
 
The acquisition is also being considered by competition authorities in the US, the UK and Canada.
 
Recall Holdings recorded a net profit of $22.858 million at 31 December 2015.

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