Pioneer gets appeal hearing on Pannar takeover
The South African Competition Tribunal has agreed to a public hearing on DuPont seed subsidiary Pioneer Hi-Bred’s appeal against the national authorities’ rejection of its takeover bid of seed company Pannar Seed. The Competition Commission blocked the proposed acquisition of the Greytown-based company over competition concerns for the hybrid maize market in the country ( Agrow No 606, p 23). The request for review includes the business’s position that the transaction will increase, not lessen, competition in the maize seed industry, the companies say. Pioneer sought a majority stake in the enterprise.