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South African Competition Tribunal approves Harmony's acquisition of Gold Fields

Harmony's hostile bid for Gold Fields would potentially have combined two of South Africa's largest gold producers. We assisted Harmony with rebutting the competition arguments put forward by Gold Fields, which related primarily to the effects of the proposed transaction on suppliers to the gold industry within South Africa. We provided written submissions to the South African Competition Tribunal, and Cristina Caffarra testified before the Tribunal. The transaction received clearance from the Tribunal on 10 May 2005 (subject to conditions relating to staff retrenchments).

For further details, see South African Competition Tribunal

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