By Hannah Johnson
The Bookseller+Publisher reports that the Australian Competition and Consumer Commission (ACCC) “will not oppose the acquisition of REDgroup Online by Pearson Australia Group.”
Pearson announced in July of this year that it had reached an agreement with the REDgroup to acquire the websites of Borders and Angus & Robertson in Australia, which include online bookstores and app bookstores.
In response, the Australian Booksellers Association (ABA) requested that the ACCC conduct an investigation of this proposed takeover. The Bookseller reported that the ABA believes the takeover would “create monopolies in the supply chain” and give an unfair advantage in the marketplace to Penguin books, owned by Pearson.
The acquisition was completed on July 27, and the websites continue to run as before, with the staff relocating to the Pearson headquarters.