Australia to Tighten Scrutiny of Mergers Involving Large Companies

Published on October 10, 2024

The Australian government has introduced a bill to overhaul the country’s merger laws, marking the most significant change to its competition framework in almost five decades. The new legislation, presented by Treasurer Jim Chalmers in Parliament on Oct. 10, aims to establish a system that differentiates between mergers deemed to stifle competition, and those that provide real economic benefits. The reforms empower the Australian Competition and Consumer Commission (ACCC) to more effectively scrutinise mergers while accelerating the approval of pro-competitive deals. “These reforms, set to take effect on Jan. 1, 2026, will align Australia with other OECD nations by introducing mandatory merger notifications—an element currently absent from our system,” Chalmers stated....

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