The head of the Australian Competition and Consumer Commission has called for reforms to Australia’s merger laws that would make review by the regulator compulsory, saying the current informal review regime hampers its ability to block anti-competitive deals.
The competition regulator has cast doubt on the public interest argument for the proposed $4.9 billion ANZ, Suncorp tie-up, saying Tuesday the nature, likelihood and extent of the touted benefits had not been substantiated.
Westpac has hit back at a bid by ASIC to add an allegation to the regulator’s insider trading case that hinges on the bank providing financial services when it traded on the morning of a $16 billion deal to privatise electricity provider Ausgrid.
A law firm and several peak bodies for professionals in the corporate sphere have criticised the Australian Securities and Investments Commission’s enforcement track record, saying the regulator is inefficient and fails to properly address misconduct.
A judge has stayed an Australian lawsuit filed by food delivery service HungryPanda against competitor Fantuan over the acquisition delivery platform EASI until a related UK lawsuit is resolved, amid a fight for control of the local Asian food delivery market.
Former Nuix CEO Edward Sheehy is challenging his loss in a lawsuit claiming he’s owed $183 million in options under a 2008 agreement with the technology company.
An appeals court has dismissed a challenge in a lengthy legal drama between the children of one of Australia’s richest families, finding that a lawsuit over $200 million in Lendlease purchase options was not brought in good faith.
The ACCC will monitoring the pricing and supply of essential services such as energy and telecommunications as well as interest rates in 2023 as cost of living pressures continue to bear down on consumers.
K&L Gates has snagged a partner from Arnold Bloch Leibler to bolster the real estate practice in its fast-growing Sydney office.
Slater & Gordon is poised to go private in an off-market takeover by Allegro Funds valuing the company at 55 cents per share, 16 years after it became the first law firm to list on the ASX, reaching a peak valuation of $2.8 billion.