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Deficiencies In Australia’S Current Merger Regime: The Call To Combat Creeping Acquisitions, Ashleigh Cavagnino
Deficiencies In Australia’S Current Merger Regime: The Call To Combat Creeping Acquisitions, Ashleigh Cavagnino
Theses
The Australian Competition and Consumer Commission (ACCC) does not have adequate tools to prevent creeping acquisitions under the Competition and Consumer Act 2010 (Cth) (CCA).
Section 50 of the CCA prohibits a corporation from acquiring shares or assets if the acquisition would have the effect, or be likely to have the effect, of substantially lessening competition in any market. The expression ‘creeping acquisitions’ refers to a number of small individual mergers or acquisitions that, when considered in isolation, do not have a sufficient impact on competition to breach s 50, but when considered together, have a cumulative effect of substantially …