ACCC's updated Informal Merger Review Process Guidelines set clearer, more realistic timetable

Key Points:

The ACCC's updated Informal Merger Review Process Guidelines set more realistic timetables, but the new extensions might not benefit parties to a merger.

The ACCC's informal review procedure is the most widely used process to obtain merger clearance in Australia. The updated Informal Merger Review Process Guidelines released in late September are therefore an important source of procedural information for merging parties and advisers, building on experience with the evolving informal review process over the last seven years.

The relatively new pre-assessment process developed for dealing quickly with the large number of non-contentious mergers notified has allowed resources to be diverted to review more complex transactions. However, this does not appear to have resulted in materially quicker public reviews overall.