The commission also released a quick guide for businesses
The Australian Competition and Consumer Commission (ACCC) has announced the release of its draft guidelines on the new merger regime, with businesses, their advisers, consumers, and other stakeholders able to give their feedback through a consultation.
Running from 27 March to 28 April, the ACCC’s consultation will gather insights on the draft guidance, which seeks to shed light on the processes that the ACCC intends to use in its assessment of acquisitions under the new merger process, according to a media release.
The ACCC also shared in its media release that it has published a more simplified guide for those who are not as familiar with its processes relating to mergers.
“We are committed to ensuring stakeholders are well informed about the new process and its requirements and to provide transparency in how we will assess mergers in the new regime,” said ACCC chairperson Gina Cass-Gottlieb.
With the quick guide for businesses and the draft guidelines, the ACCC aims to help members of the community understand and participate in the new regime, the media release said.
On 10 December 2024, Parliament passed the Treasury Laws Amendment (Mergers and Acquisitions Reform) Act 2024, which transitioned from a voluntary regime to a mandatory administrative regime and requires notification to the ACCC for acquisitions falling within the applicable threshold. The ACCC said in its media release that it welcomed the legislation introducing this change.
“We know many businesses are already preparing for when the new merger control regime starts on a voluntary basis from 1 July 2025,” Cass-Gottlieb said in the ACCC’s media release.
The ACC explained in its media release that, while businesses could voluntarily inform it about acquisitions during the six-month voluntary notification period beginning 1 July, the new merger regime would officially commence on 1 January 2026.
“The changes to the merger regime mean that all acquisitions that meet certain thresholds need to be notified to the ACCC for assessment from 1 January 2026,” Cass-Gottlieb said. “This is a major change for businesses and for the ACCC.”
The ACCC said that it would continue to assess whether it should further refine and update its merger process guidance in the future, including after the consultation has concluded, after the legislative instruments are finalised, and during the voluntary notification period.
In the past, the ACCC has shared its expectation of approving about 80% of acquisitions within 15–20 business days and ensuring a swifter and more predictable process toward clearance for participants in the regime.
“Acquisitions that do not pose significant risk to competition will be approved early in Phase 1 or may be granted a waiver, removing their obligation to notify,” Cass-Gottlieb said. “Contentious mergers on the other hand will be closely scrutinised and subject to in-depth assessment to prevent anti-competitive mergers from causing harm to consumers and competition.”
The ACCC also recently released guidelines relating to transitional arrangements and draft guidelines regarding merger assessments.
