ACCC Will Not Oppose The Proposed Acquisition Of Recall Holdings By Iron Mountain

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Iron Mountain IncIRM
, a storage and information management services company,
announced
on Wednesday that it has received regulatory of approval of a proposed undertaking in Australia and the United Kingdom. Iron Mountain stated that the Australian Competition and Consumer Commission (ACCC) completed a market testing and approved the company's plans to divest its Australian business in a stock sale, excluding its local records management customers in the Northern Territory and its data management business. The divestment of its Australian business was a pre-requisite to obtain the necessary approval to acquire Recall Holdings. Iron Mountain also stated that the United Kingdom's Competition and Markets Authority (CMA) approved its request for consent to close the anticipated acquisition of Recall prior to regulatory clearance and subject to certain "hold separate" commitments Iron Mountain continues to expect its combination with Recall will result in meaningful synergies and accretion and it has agreed to make certain divestments, if necessary, to address competitive issues. Shares of Iron Mountain were trading higher by 0.65 percent late Thursday morning.
Posted In: NewsACCCInformation Management Services Companiesiron mountainREcall Holdings LimitedStorage Companies
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