Kirin Holdings Co., the nation's biggest beverage maker, has asked Australia's antitrust regulator for clearance to bid for milk processor Dairy Farmers.
Kirin's National Foods unit was one of a number of parties interested in acquiring or merging with the company, Dairy Farmers said in an e-mailed statement Friday. Other potential bidders may also seek approval from the regulator in the coming weeks, it said.
The Australian Competition and Consumer Commission "has indicated that it has commenced its review for this particular party and it would take a minimum of eight weeks before issuing preliminary findings," Dairy Farmers said.
An acquisition would give Tokyo-based Kirin more than half of Australia's milk and dairy market.
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