Building materials firms Boral and CSR will merge their clay bricks businesses into a major market player after receiving the all-clear from the competition watchdog.

The Australian Competition and Consumer Commission has approved the joint venture, saying it doesn’t believe the move will substantially lessen competition. Boral had previously warned that the local brick-making industry could die if the competition watchdog failed to approve the joint venture. The ACCC’s approval allows Boral and CSR to…