Australia’s Merger Regime Changes Again: Parliament Fine-tunes New M&A Rules

Less than a year after Australia’s new merger regime commenced, Parliament has passed the first significant amendments to the framework. The changes address several practical concerns that emerged during the transition period and provide greater certainty for dealmakers, investors and boards navigating Australia’s new mandatory merger notification system.

Australia’s merger regime remains significantly more interventionist than the system it replaced, but Parliament has recognised the need for greater flexibility and commercial practicality.

The latest amendments provide important clarification around minority investments, reduce the risks associated with inadvertent notification failures and give parties more flexibility when approved transactions are delayed.