Is buying Goodman Fielder Limited shares right now an easy way to make a quick buck?

Shares in Goodman Fielder Limited (ASX:GFF) are trading 10% below Wilmar's offer price for the company.

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This morning Goodman Fielder Limited (ASX: GFF) announced to the market that the Australian Competition and Consumer Commission would not oppose Wilmar and First Pacific's takeover of the company.

Based on market analysis the Commission found that Wilmar and Goodman Fielder would 'continue to be competitively constrained by alternative existing and potential suppliers' and thus would be unable to successfully drive market prices higher.

It was further noted that vegetable oil is considered a commodity by consumers and has low brand loyalty, making it easier for retailers to find alternative suppliers if necessary.

The ACCC thus announced that it has no objection and will not oppose the proposed takeover.

With shares in Goodman Fielder trading at $0.62 at the time of writing, nearly 10% below Wilmar's offer price of $0.675, traders have the opportunity to make a quick buck with the takeover expected to be finalised by the end of 2014.

Timing will be an issue with the Chinese Ministry of Commerce yet to make a ruling on the matter, but given ACCC approval I can't see the takeover not going ahead.

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Motley Fool contributor Sean O'Neill doesn't own shares in any company mentioned.

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