Merger control in Australia during the COVID-19 pandemic

Earlier this week, we published our predictions as to the impact of the COVID-19 pandemic on Australian merger control processes (see below). As expected, on 20 March 2020, the ACCC released some initial guidance. At this stage, the ACCC:

• has cancelled non-essential meetings, and is transitioning to remote working;
• expects timelines for some reviews may need to be extended (due to difficulties in progressing market inquiries (as we flagged below));
• is not (yet) requesting parties to delay applications, but does encourage parties to consider deferring non-urgent applications;
• requests parties to update the ACCC regularly as to changes in commercial timing or the likelihood that a deal will proceed;