Australia is set to overhaul its competition policy with a mandatory notification rule for mergers and acquisitions (M&A), specifically targeting unfair company mergers. This move, initiated by the Labor government and aimed at requiring large companies planning a takeover to first seek clearance from the Australian Competition and Consumer Commission (ACCC), will have the authority to block small deals that could potentially entrench a dominant market position. The policy revision, intended to speed up approvals and boost competition, was announced by Treasurer Jim Chalmers. The ACCC has welcomed the Treasurer's announcement, highlighting that the proposed reforms will better address issues related to serial acquisitions and involve mandatory notification for merger deals above specific thresholds.
ACCC - ALSO WELCOMES TREASURER’S ANNOUNCEMENT MERGER LAWS WILL BE UPDATED TO BETTER DEAL WITH SERIAL ACQUISITIONS
ACCC - PROPOSED REFORMS INCLUDE INTRODUCING MANDATORY NOTIFICATION REQUIREMENT FOR MERGER DEALS ABOVE CERTAIN THRESHOLDS
Australia is revamping its M&A rules to speed up approvals and boost competition, Treasurer Jim Chalmers said. Read today's Australia Briefing, by @ByMattBurgess for your daily dose of the best of Bloomberg from Down Under and around the world. https://t.co/JM5qEKpalW
🔴 ACCC PROPOSES MANDATORY NOTIFICATION FOR MERGER DEALS ABOVE SPECIFIC THRESHOLDS
Australia is revamping its M&A rules to speed up approvals and boost competition, Treasurer Jim Chalmers said. Read today's Australia Briefing, by @ByMattBurgess for your daily dose of the best of Bloomberg from Down Under and around the world. https://t.co/kYvKiQbQrh
Australia Seeks to Speed Up Mergers in Bid to Boost Competition https://t.co/CahzWHUZ5m
Australia sets mandatory notification rule in M&A shakeup https://t.co/SYDMkOuRnH
Labor targets unfair company mergers in competition policy overhaul https://t.co/TiH1J6tb0h
⚠️ AUSTRALIA SETS MANDATORY NOTIFICATION RULE IN M(and)A SHAKEUP Full Story → https://t.co/jtdw7hil8X Large companies planning a takeover in Australia will first have to seek clearance from the antitrust regulator, which will be able to block small deals that "entrench" a big… https://t.co/4Q1ZTSVgbc