• NZ CC said it will issue a Statement of issues on Viridian NZ Bidco Ltd’s proposed acquisition of Metro Performance Glass Ltd (Metro) re potential competition concerns.
• Proposal is to acquire up to 100% of the shares in Metro by way of a takeover offer under Takeovers code or scheme of arrangement per Part 15 of Companies act 1993.

Preliminary Findings

• Preliminary findings suggest the merger could reduce competition in glass processing, supply, and installation, leading to higher prices or lower service quality.
• Statement of issues is not a final decision, does not indicate a predetermined outcome.