Competition Law News
2 September 2010 - ACCC grants interim approval for joint green waste tender
The ACCC has 'has granted interim authorisation to allow the Central Queensland Local Government Association to run a joint tender process on behalf of the Banana Shire Council, Central Highlands Regional Council, Gladstone Regional Council, Isaac Regional Council and the Rockhampton Regional Council to provide green waste mulching services in their council regions'. Submissions on the substantive application for authorisation are due by 10 September. See press release.
1 September 2010 - ACCC allows Jetset Travelworld/Stella Travel Services Merger
The ACCC will not oppose the proposed acquisition of Stella Travel Services by Jetset Travelworld Ltd. This decision followed release of a statement of issues and extensive review of the transaction. The ACCC noted, in particular, that the internet has 'dramatically affected th way competition works in the travel industry'. See Press Release.
31 August 2010 - Baxter Healthcare penalised for TPA breaches
Justice Mansfield has ordered Baxter Healthcare to pay a penalty of $4.9million for contravening sections 46 (misuse of market power) and 47 (exclusive dealing) of the Trade Practices Act. This penalty ruling follows the 2008 ruling of the court declaring that the contraventions had occurred. The penalty is substantially less than the $27.3m sum sought by the ACCC. View ACCC Press Release.
31 August 2010 - Chief Justice of the Federal Court thinks BHP v Qld Wire was wrongly decided
At last week's Law Council seminar on the Gold Coast the newly appointed (March 2010) Chief Justice of the Federal Court, Pat Keane, stated that he disagreed with the 1989 High Court decision in Qld Wire in which BHP was found to have abused its power by refusing to supply y-bar to a competitor of its subsidiary, QIW. Keane was, at the time, junior counsel for BHP. View brief report by John Durie in the Australian. See also article by James Eyers, 'Keane's Lament for Cases Lost' in Friday's Australian Financial Review (page 39) in which Justice Keane is quoted as saying: 'It may be that the decision in QWI should now be seen as a relic of times when legal and legal/economic theories derived from US jurisprudence exercised undue sway over the thinking of members of the High Court'.
29 August 2010 - Publication: Changes in Competition Policy Over the Last Two Decades
On 25 May the Polish Office of Competition and Consumer Protection announced the release of a book - 'Changes in Competition Policy Over the Last Two Decades'. The book (which is just shy of 600 pages long) is freely available for download on the Agency's website and was released as the 'jubilee publication' celebrating the 20th Anniverry of the establishment of the UOKiK. It features a number of papers by authors from various jurisdictions divided into four broad areas: Competition-Restricting Practices, Merger Control, State Aid Reform and Competition Policy Challenges.
25 August 2010 - ACCC v Link Solutions Pty Ltd (No 2) [2010] FCA 919
This case involves an allegation of third line forcing by telecommunications companies. The pleadings against EFS and CIT were struck out and orders made for summary judgment in their favour. Clear Telecoms and WorldTel officers were held not to be entitled to summary judgment.The ACCC sought (and was granted) leave to replead. The matter was stood over until 30 August to consider proposed orders. View decision.
25 August 2010 - Trade Practices Committee Workshop
Graeme Samuel's opening remarks at the LCA's Trade Practices Committee Workshop on the Gold Coast on 21 August are now available here. The provide an update on trade practices issues with particular focus on cartel conduct. A paper by ACCC Commissioner, Dr Jill Walker is also available: 'The meaning of understanding: when does communication become collusion?'
20 August 2010 - ACCC proposes to allow Agsafe to continue industry stewardship program
The ACCC has issued a draft determination proposing to grant further authorisation to Agsafe to allow it to 'continue to enforce the Agsafe Accreditation and Training Program' ensuring 'regulatory compliance with the supply chain of agricultural and veterinary chemicals in Australia'. The ACCC believes the authorisation will help maintain safety levels. Submissions on the draft determination may be made until 1 September. View press release. View draft determination.
19 August 2010 - US agencies release new merger guidelines
The US Federal Trade Commission and Department of Justice today announced the release of new horizontal merger guidelines. These replace the 1992 merger guidelines and follow the release of draft revised guidelines in April this year. View press release. View Guidelines.
19 August 2010 - ACCC revokes speedway notification
The ACCC has revoked an exclusive dealing notification lodged by Perth Motorplex and Avalon Raceway 'which only allow drivers and pit crew to access track facilities if they hold a licence from the National Association of Speedway Racing.' The notification was originally lodged in 2008. View Press Release. View notification register.
18 August 2010 - ACCC proposes to re-authorise collective negotiation arrangements for dairy farmers
The ACCC has issued a draft decision to re-authorise collective negotiation arrangements proposed by Premium Mil Ltd on behalf of its members relating to farm gate milk prices and milk standards when dealing with Parmalat Australia Ltd. View Press Release. View Authorisation Register.
18 August 2010 - Samuel recuses from NAB/AXA merger decision
To avoid an perceived conflict arising from a family investment in DFO, Samuel has recused himself from ACCC's deliberations on the proposed NAB/AXA merger. View press release. View mergers register; the closing date for public submissions on the proposed merger is 23 August 2010.
16 August 2010 - ACCC v Cement Australia Pty Ltd [2010] FCA 877
Reasons for Judgment of Justice Greenwood are now available. This involves requests to amend statements of claim (and opposition to that request) in relation to allegations by the ACCC that Cement Australia engaged in anticompetitive conduct contrary to s 45 of the TPA. View case.
16 August 2010 - Which party has the best competition policy?
With the election campaign gearing up for next weekend's vote, I thought I'd take a little time to evaluate which major party has the best competition policy. The evaluation is not simple, given the lack of detailed discussion of future competition policy by either party, but the conclusion is not surprising. View blog post.
13 August 2010 - Melbourne University Launches CLEN
Melbourne University today launched the hosted the Competition Law & Economics Network. The launch coincided with the first annual Baxt Lecture in Competition Law, delivered by Prof William Kovacic. See my related blog post.
13 August 2010 - First Annual Baxt Lecture in Competition Law
Melbourne University today hosted the first annual Baxt Lecture in Competition Law (co-sponsored by the ANZSOG). The lecture was presented by Professor William Kovacic, former Chairman of the US FTC, on the topic 'Competition Authorities for the 21st Century'. The lecture will serve as the flagship event for the new Competition Law & Economics Network. See my related blog post.
12 August 2010 - Draft decision to authorise Queensland liquor accord
The ACCC has issued a draft decision to grant conditional authorisation for a pro-forma liquor accord arrangement in Queensland which aims to deal with harm resulting from alcohol abuse. View press release. View authorisation register.
9 August 2010 - ACCC takes action against Black and White Cabs
The ACCC has instituted proceedings against Black and White Cabs, alleging third line forcing. t is alleged that in 2009 Black and White Cabs included a 'clause in a number of operating agreements which required the taxi operators who sub-let a licence through Black and White Cabs to exclusively use the Cabcharge Eftpos System for processing electronic payments'. The matter is listed for a scheduling conference in Melbourne on 22 September. View ACCC press release.
30 July 2010 - ACCC proposes to authorise ATM proposal
The ACCC is proposing to authorise an agreement between Suncorp-Metway and Bendigo and Adelaide Bank not to charge each tohers' cardholders a fee for ATM transactions that they own. View press release. View authorisation register for draft determination.
29 July 2010 - ACCC will not oppose Novartis pharmaceutical acquisition
The ACCC has announced that it will not oppose the proposed acquisition of Alcon Laboratories by Novartis, following the provision of undertakings which will see 'injectable miotic assets' in Australia sold to Bausch & Lomb. View press release. View mergers register.
28 July 2010 - Telstra penalised $18.55 million
Justice Middleton has penalised Telstra $18.55 million for denying infrastructure access to competitors, indicating that the contraventions 'demonstrate substantial non-compliance by Telstra with its legal obligations'. Telstra has indicated that it will not appeal. View Federal Court decision. View ACCC press release. See also news articles, including 'Telstra fined $19m for blocking wholesale rivals' (Bingemann, The Australian), 'Telstra to be focused, for the first time' (Maiden, SMH), 'Telstra up to its old tricks again' (Durie, The Australian), 'Telstra fine for breaching competition laws has lessons for all' (Clayton Utz) and 'Telstra fined $18.5m for anti-competitive behaviour' (Donovan, ABC)
28 July 2010 - ACCC grants interim approval to Liquor Stax to collectively bargain
The ACCC has granted interim approval to Liquor Stax to collectively bargain for around 2000 small businesses with around 60 suppliers of alcohol, cigarettes, poker machines and confectionary and related services. Submissions have been sought from interested parties - submissions close on 30 July. View press release. View authorisation register.
22 July 2010 - ACCC does not propose to intervene in sale of Mobil retail assets to 7-Eleven
The ACCC has announced it does not intend to intervene in the proposed sale, conditional on certain divestiture undertakings. VIew press release. View Merger Register.
16 July 2010 - ACCC objects to car rental collective bargaining at Perth Airport
The ACCC has objected to a proposal by five car rental companies to collectively negotiate with Perth Airport, claiming it may 'reduce competitive tensions between the car rental companies' and put other car rental companies at a competitive disadvantage. View press release.
13 July 2010 - Name change legislation receives Assent
The Trade Practices Amendment (Australian Consumer Law) Act (No. 2) 2010 was assented to on 13 July with the result that the TPA will be renamed the Competition and Consumer Act 2010 from 1 January 2011.
13 July 2010 - Wright Rubber v Bayer
The Full Federal Court has granted an application for leave to appeal and allowed that appeal in respect to the striking out of certain pleadings relating to the applicant's representative proceeding against Bayer alleging price-fixing. View case.
13 July 2010 - Access bill receives assent
The Trade Practices Amendment (Infrastructure Access) Act 2010 was assented to on 13 July, making changes to administrative aspects of the regime.
8 July 2010 - ACCC proposes to authorise North West Shelf Gas Project joint marketing
The ACCC is proposing to 'grant conditional authorisation to the joint venture partners in the North West Shelf Gas Project to jointly market and sell their individual domestic gas entitlements for supply in Western Australia' until 31 December 2015. The ACCC is now consulting on the draft determinations and submissions are due on 30 July 2010. View press release. View Authorisation Register.
24 June 2010 - TPA to become CCA
Today's passage of the Trade Practices Amendment (Australian Consumer Law) Bill (No. 2) 2010 means that the TPA will be renamed the Competition and Consumer Act 2010 from 1 January 2011.
11 June 2010 - ACCC v Bridgestone Corporation
The full text of the Judgment of Justice Finkelstein in this case involving admissions and agreed penalties for cartel conduct is now available and worth a look. Justice Finkelstein compares penalties in other jurisdictions and is critical of the low penalties applied (to date) in Australia. View my blog post on this.
2 June 2010 - Extradition for cartel conduct
Mallesons' latest Competition Law Update includes a discussion of the extradition rules relating to criminal cartel conduct.
31 May 2010 - Current Issues on the ACCC's Radar
ACCC Chairman Graeme Samuel's paper from the weekend's Competition Law Conference in Sydney is now available on the ACCC website. View paper.
27 May 2010 - Creeping Acquisition Bill Introduced
Parliament today introduced the Competition and Consumer Legislation Amendment Bill 2010 which will make minor changes to the merger provisions which the Government, in the Explanatory Memorandum, claims will help to address concerns about creeping acquisitions. View my summary here.
27 May 2010 - Telstra seeks fine reduction
Telstra has requested a fine of $4m for excluding the broadband servers of some competitors for a period in excess of two years. The ACCC is seeking a $40m fine. Telstra claims the amount should be significantly less than what the ACCC is seeking because it's conduct was accidental and resulted from poor supervision rather than as a result of a deliberate anticompetitive policy. The case is currently before Justice Middleton in the Federal Court (Melbourne). See reports in The Age and the Sydney Morning Herald.
24 May - US Supreme Court reverses American Needle
The US Supreme Court had overturned the decision of Seventh Circuit Court in American Needle. The case stemmed from an agreement by the National Football League Properties (NFLP), an entity formed by the NFL (an unincorporated association of 32 football teams), to grant an exclusive licence to Reebok to produce and sell trademarked headware for all of the teams. Each of the football teams owned its own name, colors, trademarks etc. The Court found that just because members were controlled by a single entity did not mean they necessarily escaped the scope of s 1 of the Sherman Act - they considered the issue one of 'substance' not 'form' and in this case asked whether the agreement joied together 'separate economic actors pursuing separate economic interests' such that it 'deprive[d] the marketplace of independent centers of decisionmaking'. The Court found that each NFL team was a substantial independently owned and managed business whose 'general corporate actions are guided or determined [by] separate corporate consciousnesses'. They also observed that the teams compete with each other on and off the playing field. Importantly, the Court held that they were potentially competing suppliers for intellectual property. Consequently they held that the NFLP's decisions to licence the teams' separately owned intellectual property constituted concerted activity covered by section 1 of the Sherman Act. The decision was unanimous. View decision.
19 May - Hockey announces Liberal plan to review TPA
Joe Hockey announced as part of his Budget Address to the National Press Club that, if elected, the Coalition would undertake a 'comprehensive and independent review of the Trade Practices Act ... including all aspects of competition arrangements in Australia.' We can expect to hear more about this from Bruce Billson in the coming days. View Hockey's address.
17 May - ACCC institutes proceedings against Japan Aiarlines alleging price fixing of air freight
Japan Airlines today became the 14th airline subject to ACCC proceedings alleging price fixing in the air cargo industry. A directions hearing has been set for 10 June. See press release.
17 May - ACCC institutes proceedings against Air New Zealand alleging price fixing of air freight
The next claim by the ACCC in a long line of proceedings instituted in respect of air cargo is against Air NZ, alleging that between 2002 and 2006 Air New Zealand 'entered into arrangements or understandings with other international air cargo carriers that had the purpose or effect of fixing the price of a fuel surcharge and a security surcharge that were applied to air cargo carried by them and other airlines'. A directions hearing has been set for 10 June. See press release.
13 May - Senate Economics Committee recommends rejection of Richmond Amendment
The majority of the Senate Economics Legislation Committee recommended that the Senate reject the Trade Practices Amendment (Material Lessening of Competition - Richmond Amendment) Bill 2009, finding alteration of the merger test would generate uncertainty when there was no sound evidence suggesting a problem with the current bill. The Committee also rejected the proposal to set a percentage market share threshold for mergers involving firms with an existing substantial market share - the so-called 'creeping acquisition' provision - noting that such a change would be 'arbitrary and contentious'. View report information.
10 May - OFT withdraws criminal cartel proceedings
The OFT has withdrawn criminal cartel proceedings against British Airways executives following late disclosure of documents. View OFT Press Release. This was the first criminal cases brought pursuant to the OFT's criminal cartel laws. Caron Beaton-Wells has written a nice piece in the Australian Financial Review (20 May 2010) describing the lessons to be learned for Australian criminal cartel litigation.
5 May - Professions and the TPA
The ACCC has launched a new publication, Professions and the TPA.
21 April - ACCC continues to allow collective bargaining for chicken growers
The ACCC has re-authorised collective bargaining by Victorian chicken growes for a further five years. View press release. View authorisation register.
21 April - ACCC authorises arrangements to close coal terminal at Gladstone Port
The ACCC has authorised arrangements for the transfer coal handling capacity which would facilitate the closure of Barney Point at Gladstone. View press release. View authorisation register.
21 April - ACCC proposes to allow freelance journalists to collectively negotiate with publishers
The ACCC has issued a draft determination proposing to authorise Media Entertainment and Arts Alliance to collectively negotiate on behalf of freelance journalists. See press release. See authorisation register, including draft authorisation.
21 April - News on ACCC opposition to NAB bid
The NAB has rejected the ACCC's opposition to its bid for Axa Asia Pacific and has indicated it will pursue a 'range of options' to move ahead with the bid. This has led to a flurry of interesting news items - there's pleny on offer, so I've just included links to a small selection: Scott Murdoch, 'NAB to Defy ACCC on AXA' (The Australian, 21 April), David Rogers, 'Investors Cautious after NAB blocked' (The Australian, 21 April), Tim Boreham, 'Bank licks wounds after watchdog bite' (The Australian, 21 April), Ben Butler, 'NAB Hints at Legal Action Against Corporate Regulator' (Herald Sun, 21 April), George Lekakis, 'Watchdog thwarts NAB on Axa takeover' (Herald Sun, 21 April) and John Durie, 'ACCC changes its tune' (The Australian, 20 April).
21 April - $9 million in penalties for air conditioning cartel
The Federal Court has imposed $9.2m in penalties over a Western Australian air conditioning cartel case involving bid-rigging and price fixing for the supply of commercial and industrial air conditioning and mechanical services. Proceedings were brought against 17 companies and 22 individuals. View press release. View decision of Justice Gilmour: ACCC v Admiral Mechanical Services Pty Ltd [2010] FCA 348.
19 April - ACCC to oppose NAB bid for AXA; ACCC to clear AMP bid
The ACCC will oppose NAB's proposed acquisition of AXA Asia Pacitic holdings, but will not oppose AMP's proposed acquisition of AXA. The ACCC expressed the view that a merger between NAB and AXA 'would result in a substantial lessening of competition in the market for retail investment platforms for investors with complex investment needs'. View press release. View public competition assessment register.
14 April - $8 million + marine hose penalty penalty for cartel conduct
The Federal Court has ordered four suppliers of marine hose to pay penalties in excess of $8.24 million for cartel conduct (in the form of bid rigging) between 2001-2006. View press release.
9 April - ACCC institutes proceedings against Malaysian airline companies for alleged price fixing of air freight
The ACCC has instituted proceedings against Malaysian Airline System Berhad and Malaysia Airlines Cargo Sdn BhD (a wholly wned subsidiary). This is the 13th airline that has been subjected to ACCC proceedings arising out of price fixing allegations in the air cargo industry. View press release.
1 April - ACCC authorises continued operation of Qantas/British Airways' Joint Services Agreement
The ACCC has granted authorisation of Qantas and British Airways' Joint Services Agreement for a further five years. View authorisation register. View press release.
31 March - ACCC to oppose proposed acquisition of Goodman Fielder's edible fats and oils business by Cargill Australia
The ACCC has announced it will oppose the proposed acquisition of Goodman Fielder's edible fats and oils business by Cargill Australia, with Chairman Graeme Samuel noting that the proposed acquisition 'would lead to a significant concentration of refining assets in Australia and remove one of only a small number of competing refiners that offer a wide range of fats and oils products' and that this 'would likely result in a substantial lessening of competition in markets for the supply of certain refined oil products'. See full press release. See mergers register.
31 March - ACCC will not oppose proposed acquisition of Varian by Agilent after modification
The ACCC has announced that it will not oppose proposed acquisition of Varian by Agilent 'after competition concerns were resolved by Agilent's undertaking to sell certain global scientific instrument assets'. See press release. See mergers register.
26 March 2010 - ACCC proposes to deny authorisation to NSW electricity co-insurance arrangement
The ACCC today released a draft decision 'proposing to deny authorisation to the NSW Government-owned electricity generators and the future acquirers of the Gentrader bundles to join and use a joint risk management arrangement'. See press release. See authorisation register.
25 March 2010 - ACCC calls for comment on proposed BHP Billiton/Rio Tinto joint venture
The ACCC has issued a Statement of Issues on the proposed BHP Billiton and Rio Tinto joint venture to produce iron ore in WA. See press release. See Merger register.
25 March 2010 - Tasmanian vegetable growers allowed to collectively negotiate
The ACCC has re-authorised collective contract negotations for the Tasmanian Farmers and Graziers Association. See press release. See the ACCC's determination.
25 March 2010 - ACCC proposes to allow some limited alcohol supply restrictions
The ACCC 'proposes to authorise alcohol supply restrictions in an agreement between liquor licensees in the Casuarina Business Precinct in Darwin'. See draft decision. See press release.
25 March 2010 - ACCC proposes to authorise arrangements to close problem coal terminal at Gladstone Port
The ACCC has made a 'draft decision to authorise arrangements to re allocate specified amounts of coal port terminal capacity from Barney Point Coal Terminal at the Port of Gladstone in Central Queensland to either the RG Tanna Coal Terminal or a new terminal to be constructed at the Port.' See press release. See registry record.
25 March 2010 - ACCC grants interim authorisation for the joint marketing of oil
The ACCC has granted 'conditional interim authorisation to Santos and ten other oil producers to jointly market their oil produced in the Surat Basin and Denison Trough in Queensland'. See press release. See registry record.
24 March 2010 - ACCC proposes to grant authorisation for collective negotiations for access to essential airport services
The ACCC has issued a draft determination 'proposing to grant authorisation to the Board of Airline Representatives of Australia Inc to continue to engage in collective negotiations, on behalf of its member international airlines, for essential airport services'. See press release.
24 March 2010 - ACCC to oppose propsed acquisition of Newreg by Link Market Services
The ACCC intends to oppose the proposed acquisition of Newreg by LInk Market Services. The ACCC claims the acquisition would be likely to substantially lessen competition 'in the national market for securities registration and related services to listed companies and other entities with similar requirements, leading to higher prices and reduced quality of service that shareholders would ultimately bear'. See press release. See public register, including statment of issues.
23 March 2010 - ACCC proposes to re-authorise collective bargaining arrangements for Victorian chicken growers
The ACCC proposes to re-authorise for five years collective bargaining arrangements put forward by the Victorian Farmers Federation on behalf for Victorian chicken growers. A draft determination has been issued and is open for comment until 9 April. See press release.
17 March 2010 - TPA to be renamed CCA
The Trade Practices Amendment (Australian Consumer Law) (No 2) Bill 2009 was introduced into the House of Representatives today. Schedule 5, s 2, provides: “Omit “Trade Practices Act 1974“, substitute “Competition and Consumer Act 2010””.
5 March 2010 - ACCC institutes proceedings against Korean Air Lines Co Ltd
The ACCC has instituted proceedings against Korean Air Lines Co Ltd in relation to alleged price fixing in the air cargo industry. Korean Air is the twelfth airline subject to ACCC proceedings in relation to alleged air cargo price fixing. A directions hearing has been set for 1 April 2010. See media release.
5 March 2010 - Doctors risk breaching competition laws
An ACCC press release provides some details of an ACCC investigation into five doctors from the Kangaroo Island Medical Clinic in South Australia. The doctors shared office and administrative facilities but operated their own separate medical practices and therefore were competitors. The investigation arose from letters written by each doctor to the administrator of the Kangaroo Island hospital relating to on call arrangements and after hours remuneration. The doctors threatened to withdraw services and this conduct was investigated as a collective boycott. Concerns were addressed through the provision of undertakings to the ACCC. View media release.
4 March 2010 - ACCC proposes to authorise collective bargaining by iron ore producers
The ACCC has issued a draft determination which proposes to grant conditional authorisation to a group of junior iron ore producers to collectively bargain for rail haulage services and rail track acess in Pilbara, WA. View press release. View public register.
3 March 2010 - How competition law supports transport and logistics solutions
ACCC Chariman, Graeme Samuel, delivered a paper at the Australian Logistics Council Forum 2010, Sydney, today regarding the benefits of competition in the transport industry. View speech.
2 March 2010 - Restrictive ice hockey policy is anti-competitive
The ACCC has issued a notice revoking Ice Hockey Australia's exclusive dealing notification, under which members are prevented from playing in ice hockey competitions that do not have Ice Hockey Australia approval. View press release. View notification register.
25 February - Speech by Samuel - Breaching the TPA never been more costly
ACCC Chairman, Graeme Samuel, delivered a speech to an AICD luncheon in Melbourne discussing new tougher penalties for anti-competitive behaviour, including cartels. View press release.
10 February - ACCC issues statement of issues on proposed acquisitions of AXA Asia Pacific
The ACCC has issued a Statement of Issues on the separate proposed acquisitions by AMP Ltd and National Australia Bank Ltd of AXA Asia Pacific Holdings Ltd. Further submissions are due by 26 February 2010. A final decision is anticipated by 17 March 2010. View media release.
8 February 2010 - More Supermarket Agreements
The ACCC has announced further agreements with major supermarkets to phase out restrictive provisions in supermarket leases. See ACCC Press Release. See press release of competition Minister Emerson.
8 February 2010 - $1 Million Penalty for Defence Cartel
The Federal Court has ordered DRS C3 systems (an American-based company) to pay $1m in penalties for cartel behaviour in the international military defence training industry. The conduct was admitted and orders were by consent. See ACCC Press Release.
3 February 2010 - Paper suppliers to pay $4m for price fixing
The Federal Court has ordered APRIL Fine Paper Trading Pte Ltd (Singapore) and APRIL International Marketing Services Australia Pty Ltd, to pay penalties totallying $4m for engaging in price fixing ($3.25m and $750,000 respectively). The penalties were discounted as a result of the cooperation of the companies. View ACCC Press Release.
22 January 2010 - Emerson Press Release on Merger Change
The Press Release from Competition Minister, Dr Craig Emerson, relating to the proposed change to the definition of market for purposes of merger review, has now been released. Although the announcement claims that the change will address creeping acquisitions, it is impossible to see how it will do this. Hopefully, however, this proposed insignificant change means that we can say goodbye to the various other government proposals relating to creeping acquisitions and the current proposed Richmond Amendment (although a report is still due out on the latter in March). The Conduct Code Agreement 1995requires the Government to consult with state and territory governments in relation to the proposed amendments (full detals of which are not available) before their implementation.
22 January 2010 - Proposed changes to merger laws - again!
According to today's papers, Emerson will today announce plans to change the definition of market in relation to mergers by removing the requirement that a 'market' be 'substantial': ('Competition Minister takes aim at creep for control', John Durie, the Australian; 'Craig Emerson plans changes to the law to stop creeping takeovers', John Durie, the Australian and also see page 5 of today's Australian Fin Review). Although full details are not yet clear, it's hard to imagine what practical significnace this change will have: see good post by former Member of the ACCC, Prof Stephen King, 'Goodbye to substantial markets'.
21 January 2010 - EC clears Oracle/Sun deal
Following provision of commitments by Oracle, the European Commission has cleared the Oracle/Sun proposed merger. View EC Press Release.