The Competition Tribunal (the “Tribunal”) recently approved a proposed transaction between BB Investment Company (Pty) Ltd (“BB”) and Adcock Ingram Holdings (Pty) Ltd (“Adcock”),1 subject to the condition that Adcock will not retrench any employees, for any reason,2 for a period of one year from the date of approval of the transaction. The transaction did not raise any competition concerns, however the employment concerns arose as a result of Adcock, the target firm, embarking on a restructuring exercise prior to implementation of the merger.