The Australian Competition and Consumer Commission have approved the takeover of the agribusiness Elders by its main competitor Ruralco.
Ruralco has expressed interest Elders but is yet to finalise a takeover proposal according to The West.
The ACCC has said that they would not oppose a takeover of Elders by Ruralco if a formal proposal is made as the combined businesses would still face competition for other retailers.
Elders has allegedly been looking to sell the business since 2012.
“The ACCC considered that in most towns with both a Ruralco and Elders retail store, the combined rural services retail networks of the merger parties would be constrained by alternative retail suppliers of agri-products located nearby," said ACCC chairman Rod Sims.