The Commerce Commission has cleared Whitcoulls to acquire 100 per cent of the shares in Borders.
Commission Chair Paula Rebstock said that the Commission was satisfied that the proposed acquisition would not have, or would not be likely to have, the effect of substantially lessening competition in any of the relevant markets.
Whitcoulls is an Australian proprietary company registered with the Australian Securities and Investments Commission, and is owned by private equity firm Pacific Equity Partners.
Whitcoulls and Borders are both involved in the retail of books, magazines, stationery, cards and DVDs.
Borders is a wholly-owned subsidiary of Borders Group, which is listed on the New York stock exchange.