Introduction
The Australian Competition and Consumer Commission (ACCC) has
released a revised Merger Review Process Guideline for public
consultation.
The Process Guideline is designed to inform the manner in which
the ACCC will undertake its informal assessment of mergers and
acquisitions under section 50 of the Competition and Consumer
Act 2010 (Cth). The current Guidelines have been in effect
since 2006, and with changes over time as to the approach the ACCC
is taking in its review, the revised Guidelines do not represent an
unprecedented shift in approach by the ACCC, but rather formalise
its current approach.
The effect of process changes on merger parties
The ACCC's revised process for informal clearance formalises
a more segmented approach which appreciates that not all merger
transactions are the same, varying levels of competition issues
arise in each transaction and confidentiality in some cases is
paramount.
