It brings Australia into line with large jurisdictions offshore, and tries to ensure the ACCC receives the same standard of information and time to make decisions as antitrust agencies looking at the same deal in other markets.
Ultimately, mandatory notification would claw back some power from lawyers who typically handle ACCC informal merger review processes on their clients’ behalf. “But, in reality for these big global deals, where Europe and the US are much bigger markets, it’s often a practical necessity to work on, say, the European filing first, work out what the facts are, and then get counsel to customise the application to address the issues in their country.
It’ll be interesting to see the reforms in more detail, to see exactly how far Cass-Gottlieb wants to go.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Does Tom Richardson speak Chinese around the office? He’s a biased prick
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
ACCC boss calls for Australia merger laws overhaulACCC Chairwoman Gina Cass-Gottlieb has called for an overhaul of Australia’s merger laws which includes companies being required to seek approval before mergers or takeovers go ahead. Speaking at the National Press Club, Ms Cass-Gottlieb singled out tech giants as having market power, with an ability to lessen competition by acquiring smaller rivals.
Source: SkyNewsAust - 🏆 7. / 78 Read more »
ACCC rejects claims gas price cap and safeguard mechanism harming new investmentChair Gina Cass-Gottlieb says it’s not ‘accurate’ to claim the government’s policies were making Australia uncompetitive Yep. The gas industry makes up s**t for fun and profit, as usual.
Source: GuardianAus - 🏆 1. / 98 Read more »
Competition watchdog seeks new merger regimeCompanies would be required to gain a formal clearance before being allowed to combine under an overhaul of merger laws proposed by ACCC chairwoman Gina Cass-Gottlieb. I don't remember voting for that. What about building companies who go bust and open up next week under different name, ABN etc. with same directors. acccgovau ato_gov_au
Source: FinancialReview - 🏆 2. / 90 Read more »
Competition watchdog seeks new merger regimeCompanies would be required to gain a formal clearance before being allowed to combine under an overhaul of merger laws proposed by ACCC chairwoman Gina Cass-Gottlieb. I don't remember voting for that. What about building companies who go bust and open up next week under different name, ABN etc. with same directors. acccgovau ato_gov_au
Source: FinancialReview - 🏆 2. / 90 Read more »