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Dec 1 (Reuters) - The Australian Competition and Consumer Commission (ACCC) on Friday said it has decided not to apply for a judicial review of the Australian Competition Tribunal's decision to allow Tabcorp Holdings Ltd's (TAH) $4.7 billion takeover offer for Tatts Group Ltd (TTS).
"Unlike the original decision of the Tribunal we do not consider there is any error of law that needs to be corrected. For this reason the ACCC will not be seeking further review" Chairman Rod Sims said in a statement to the Australian Securities Exchange.
“While the ACCC takes a different view from the tribunal on the extent of the public benefits and detriments arising from the proposed merger, there is no avenue of appeal that would test the merits of the tribunal’s decision." Sims added.
The deal was cleared in June by the Australian Competition Tribunal, a court-affiliated body, but ACCC appealed the decision.
Last month, the tribunal once again cleared the proposed takeover, dismissing concerns raised by the country's default M&A regulator.
Tabcorp's rival CrownBet, majority-owned by casino giant Crown Resorts (CWN) had also applied for judicial review of the tribunal's decision but later decided not to oppose the merger.
