Mergers

Only limited acceptance by the major supermarket chains of ACCC’s proposed streamlined acquisition assessment protocol

The Australian Competition and Consumer Commission has agreed with Coles a streamlined assessment protocol for single supermarket acquisitions, including in relation to new supermarket developments, for an initial six month trial period. Agreement was not reached, however, to include in the protocol acquisitions by Coles or Bunnings in liquor or hardware.

No agreement on the protocol was reached in any of the sectors with Woolworths.

About mergers

Mergers and acquisitions can be important for the efficient functioning of the economy. However, the Competition and Consumer Act prohibits those mergers that would have the effect, or be likely to have the effect, of substantially lessening competition in a market.

Fees & forms

Your application for authorisation or notification should be in a form approved by the ACCC and accompanied by the relevant fee unless a waiver is in place.

Notification

Notification is an alternative process to authorisation that is available where parties propose to engage in small business collective bargaining, exclusive dealing or resale price maintenance.

Mergers

Mergers and acquisitions are important for the efficient functioning of the economy. They allow firms to achieve efficiencies and diversify risk across a range of activities. However, the Competition and Consumer Act prohibits mergers that would have the effect, or be likely to have the effect, of substantially lessening competition in a market.

Applying for authorisation

Authorisation is a public process which commences once a valid application is lodged. The ACCC must issue a final determination in writing either granting or dismissing an application for authorisation (of non-merger conduct) within six months of receiving a valid application, unless extended.