Original article by Ronald Mizen
The Australian Financial Review – Page: 1 & 6 : 10-Apr-24

The federal government will give the Australian Competition & Consumer Commission new powers to block merger deals in reforms to be announced by Treasurer Jim Chalmers today. He contends that the existing competition laws do not adequately address ‘serial acquisitions’ by large companies and acquisitions that entrench the power of market leaders. The reforms will not be as extensive as ACCC chair Gina Cass-Gottlieb wanted. She has pushed for merger partners to be required to satisfy the ACCC that the deal is unlikely to substantially lessen competition. However, the ACCC will have to be reasonably satisfied that a merger is likely to substantially lessen competition in order to block a deal.

CORPORATES
AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIA. DEPT OF THE TREASURY