Simon Mackenzie, CEO of the Vector Group, said: We believe that our offer was appropriate given the history of this matter and the principle of forward looking regulation. We believe it also struck the right balance between consumer interests and investment incentives. We would expect the commission to have provided a detailed description of the analytical basis for its decision, which they have not done.
This further highlights the need for a robust and transparent process for establishing input settings and criteria for considering such offers, such as that proposed in the Commerce Amendment Bill. We will be seeking to engage with the commission to understand how they formed their views, and to determine whether resolution can be reached.
