Henry Davis York recently advised Baiada Poultry on its acquisition of the Bartter and Steggles businesses, one of the largest private trade and financing transactions in Australia in the past year. This merger between the second and third largest players in the poultry market created Australia's the largest chicken meat provider.
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M&A Group partner Scott Murray (pictured right)
The deal has been in preparation for over 12 months, and was uniquely structured to overcome the ACCC's initial opposition to the acquisition. The transaction was completed pursuant to a formal undertaking which involved an acquisition and a pioneering "same day" divestment by the merged enterprise of certain Victorian assets to a competitor entity. The transaction was one of the first to be fully reviewed under the revised merger guidelines of November 2008.