Tribunal clears Tabcorp/Tatts merger
The Australian Competition Tribunal last week granted authorisation for the proposed Tabcorp/Tatts merger. Legal framework for mergers in Australia The Competition and Consumer Act 2010 (s 50) prohibits acquisitions which would have the effect (or likely effect) of substantially lessening competition in any market (with market defined to mean a market for goods or services in Australia or in an Australian State, Territory or region). There is no obligation for parties to seek competition approval in advance of a merger/acquisition;…
