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ACCC blocks ACL’s proposed $1.5B Healius takeover, as offer taken off table
Corporate 2023-12-15 10:30 am By Christine Caulfield

Despite proposing a divestiture as part of its planned takeover of Healius, Australian Clinical Labs has failed to win the approval of the competition regulator for the $1.5 billion deal.

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Jan Cameron found guilty of failing to disclose interest in Bellamy’s
White Collar 2023-12-15 10:43 pm By Sam Matthews

Former Bellamy’s Australia director Jan Cameron has been found guilty of two counts of breaching the Corporations Act, following an investigation by the corporate regulator over her failure to disclose her stake in the baby formula company. 

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ACCC blesses $1.15B Viva Energy, OTR tie-up with divestitures
Competition & Consumer Protection 2023-12-14 10:46 pm By Cat Fredenburgh

The ACCC has signed off on Viva Energy’s $1.15 billion acquisition of South Australia-based convenience store chain On The Run Group, after it agreed to divest 25 Coles Express sites in the state.

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Viterra can’t dodge indemnity costs in feud over $420M Joe White sale
Appeals 2023-12-08 10:27 pm By Cindy Cameronne

Glencore-owned Viterra must pay indemnity costs to four Joe White employees it dragged into a 10-year feud with Cargill over the $420 million sale of the Joe White business, after a judge found its claims against them were “hopeless from the outset”.

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‘We don’t know’ not a reason to block $4.9B Suncorp merger, ANZ says
Financial Services 2023-12-04 11:17 pm By Cindy Cameronne

ANZ has criticised the ACCC’s objection to its planned $4.9 billion merger with Suncorp, arguing before a tribunal that the alleged “uncertain” effects on competition in banking was not a sufficient reason to block the deal.

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Noumi in talks with ASIC on penalty for continuous disclosure breaches
Securities 2023-12-01 1:38 pm By Cindy Cameronne

Food manufacturer Noumi is trying to reach agreement with the Australian Securities and Investments Commission on a penalty to propose to the court for violating its continuous disclosure obligations by overstating the value of inventory.

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Judge stays Billabong founder’s lawsuit against Ernst & Young
Tax 2023-11-20 10:56 pm By Cat Fredenburgh

Ernst & Young has won a temporary stay of a lawsuit by Billabong founder Gordon Merchant alleging the firm gave negligent advice on how to structure the 2015 sale of bio plastics manufacturer Plantic Technologies.

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Viterra’s decade-long fight with Cargill ends at door of High Court
Competition & Consumer Protection 2023-11-09 11:55 pm By Christine Caulfield

Glencore-owned Viterra has failed in its bid for High Court leave to challenge a ruling in a 10-year battle with Cargill over the 2013 sale of malt producer Joe White, leaving the grain producer to fork over damages of almost $300 million.

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Boral fails to limit class action to registered shareholders until judgment
Class Actions 2023-10-31 5:11 pm By Sam Matthews

In a shareholder class action targeting Boral, the construction materials giant has lost a bid to limit the class to registered group members until judgment, with a judge saying there was no reason to keep the class closed after mediation.

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Court tosses lawsuit over $55M sale of Queensland shopping centre
Real Estate 2023-10-31 4:09 pm By Sam Matthews

A judge has thrown out a lawsuit over the $55 million sale of Queensland shopping centre brought by an arm of Elanor Investors Group, clearing the vendor and its agent of allegedly misleading or deceptive conduct.

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