The competition watchdog has stepped into the row over the proposed Federation and Novion real estate merger to check on any breach of the merger provisions.
The Australian Competition and Consumer Competition has called for public comment on the proposed merger by February 25 with a provisional decision date pencilled in for April 2.
The combined company will be the second biggest property group behind Scentre, the Westfield spin-off and be the single largest landlord to Coles and Woolworths.
The deal has copped some criticism because it is being conducted by way of a scheme of arrangement, which means Novion shareholders will be the only side to have a vote on the issue even though they will own 64 per cent of the combined company.
Federation shareholders do not get a vote on the issue.
This article was first published on The Australian Business Review