New Merger Control Regime Off to Positive Start

Why It Matters

Fast, transparent reviews give businesses certainty while safeguarding competition, reinforcing Australia’s market integrity. The early performance signals that the new framework can efficiently monitor consolidation without stalling deals.

Key Takeaways

• ACCC processed 50 notifications and 108 waivers in first quarter
• 91% of decisions made within 20 business days, beating 80% target
• Phase‑1 approvals averaged 18 days; waivers decided in 11 days
• Only two cases moved to Phase 2, indicating low competition risk
• Public acquisitions register enhances transparency for stakeholders

Pulse Analysis

The Australian Competition and Consumer Commission (ACCC) rolled out a mandatory merger notification system at the start of 2026, replacing a voluntary framework that operated only during a transition period. By requiring firms to seek approval before completing acquisitions that meet ministerial thresholds, the regulator can assess market concentration early. Early data shows the ACCC handled 50 notifications and 108 waiver requests in just three months, with 39 Phase 1 approvals and a swift 18‑day average turnaround.

\n\nThe streamlined waiver process, designed for low‑risk deals, proved especially efficient, delivering decisions in an average of 11 business days and granting 70 waivers. Only six waivers were rejected, prompting those parties to file full notifications. The fact that merely two transactions required a deeper Phase 2 review—Ampol’s purchase of EG and Coles’ Kalgoorlie site—suggests that most proposed consolidations pose limited competition concerns under the new thresholds. \n\nBeyond speed, the regime’s transparency is a game‑changer.

All filings and decisions are posted on the ACCC’s public Acquisitions Register, allowing competitors, investors, and consumers to monitor consolidation trends in real time. Such visibility not only deters covert anti‑competitive behavior but also equips policymakers with data to fine‑tune thresholds. As the system matures, stakeholders can expect continued refinements, but the initial performance indicates a robust balance between rigorous competition oversight and a business‑friendly approval timeline.