The Department of Enterprise Trade and Employment approved 105 proposed mergers or takeovers last year, according to the Department’s annual mergers report published today.
One merger proposal, a proposed acquisition by Golden Vale, was referred to the Competition Authority but was subsequently withdrawn by the parties.
The Competition Authority’s annual report was also launched today by the Tánaiste and Minster for Enterprise Trade and Employment, Ms Mary Harney.
Commenting on the reports today, Ms Harney said the investigation of alleged price fixing and other cartel type practices is a top priority for the Competition Authority as such practices are designed to increase prices for consumers and to impose unnecessary costs on the economy.
"The message to business is that such practices represent serious breaches of competition law, are simply not acceptable and in all cases where it has evidence of cartel-type behaviour the authority will bring proceedings," Ms Harney said.
The authority recorded the first criminal prosecution under the Competition Acts for price fixing in 2000. It also took court action in connection with a blockade of a dairy in Co Donegal and has a number of other legal proceedings pending.
The Tánaiste said the capacity of the Competition Authority to investigate and act against this sort of activity has been greatly enhanced in recent months.
During 2000, five additional staff posts were created at the authority. Ms Harney said she recently approved the creation of another 15 posts this year.