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Toll Holdings Limited is facing pressure from prominent Australian businessman Lindsay Fox after rumors arose reporting that the trucking magnate’s private company Linfox had launched an appeal to the ACCC objecting Toll’s proposed rail joint venture with Patrick Corporation. The previously announced Pacific National joint venture involves the proposed purchase of Freight Australia from RailAmerica Inc.
Currently, the ACCC has not confirmed the rumors, however the watchdog did tell newspapers that it is conducting market inquiries into the Pacific National proposal.
Prior to today’s whisperings, Mr Fox has strongly stated that if the deal goes ahead, Pacific National will have a total monopoly on the rail system in Australia.
It is believed that before RailAmerica agreed to sell Freight Australia to Pacific National, Linfox was hoping to buy into the group.
1010 AEST, shares in Toll Holdings were down 1c to $10.72.
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