ACCC Releases Final Version Of Revised Merger Guidelines

Overview

The Australian Competition and Consumer Commission (ACCC) has released a final version of its revised merger guidelines. The greatest practical change for merger parties under the revised guidelines is the simplification of the 'notification' thresholds applied by the ACCC.

Background

The revised guidelines were released following input from the business and trade practices advisory community on a draft released in February this year. They provide a long anticipated update to the existing guidelines, which were first published in 1999.

Importantly, the revised guidelines do not require a radically different approach to merger analysis. The legal test for acquisitions of shares and assets under section 50 (viz, whether it is likely to have the effect of substantially lessening competition in a market) does not change. The guidelines continue to set out the principles applied by the ACCC when considering merger factors such as barriers to entry,