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Australia has made some welcome refinements to the merger control regime. Most importantly, failing to notify will no longer make a transaction automatically void—the ACCC must instead ask the Court to unwind it. The changes also provide greater clarity about when shareholders may be treated as associates exercising joint control and allow parties to extend the 12-month window for completing an approved deal. The obligation to notify, and the risk of civil penalties, remain.
Ashurst Perkins Coie and G+T have guidance notes on the latest changes.
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❇️ New Deals
Covetrus — MWI
Covetrus, Inc., a global animal health products distributor and software provider jointly controlled by TPG Inc. and Clayton, Dubilier & Rice, LLC, proposes to acquire 100% of the shares in MWI Veterinary Supply, Inc. MWI, a Cencora Inc. subsidiary, also distributes animal health products and supplies veterinary software.
EQT Fund Management - Intertek
EQT Fund Management S.à r.l., on behalf of EQT X, proposes to indirectly acquire sole control of Intertek Group Plc via a scheme of arrangement. Both parties, through their affiliates, are active in providing calibration services globally, with Intertek also offering broader assurance, testing, inspection, and certification services.
Amplitude / OG Energy - Artisan Gas Field
Amplitude Energy Limited and O.G. Energy Holdings Pty Ltd propose to acquire a 60% interest in the Artisan gas field and associated assets in the Offshore Otway Basin, Victoria, from Beach Energy (Operations) Limited. This asset acquisition in the oil and gas exploration and production sector will result in Amplitude and O.G. Energy each holding a 50% interest.
Bupa Health Services - Partnered Health
Bupa Health Services proposes to acquire 100% of the shares in Partnered Health. Bupa, an Australian subsidiary of British United Provident Association, operates across health insurance, primary care, aged care, and other health services. Partnered Health is a national provider of primary care and corporate health and wellbeing services.
Challenger - Channel Capital and Fidante
Challenger Limited is merging its Fidante funds management business with Channel Capital Pty Ltd. A newly established Channel Group Holdings Pty Ltd will acquire both businesses. Challenger's subsidiary Challenger Funds Management Holdings Pty Limited will acquire a 45% interest in Channel Group Holdings Pty Ltd, in the investment and funds management sector.
Alcoa – South32 aluminium assets
Alcoa Corporation proposes a share acquisition of five South32 Group entities, encompassing bauxite, alumina, and aluminium assets across Australia, South Africa, and Brazil. This includes 86% of Western Australian bauxite mining and alumina refining operations, plus interests in Brazilian and South African smelters and refineries.
PSP Investments - AAA Egg Company
Public Sector Pension Investment Board, through its new entity Perlaide Eggs 2 Pty Limited, proposes to acquire 100% of the shares in AAA Egg Company Pty Ltd. This transaction is in the egg farming, production, distribution, and marketing sector. PSP Investments also holds a 64% interest in Ellerslie Free Range Farms Pty Ltd, an existing egg business.
ENEOS – Chevron Australia Downstream
Japanese petroleum and energy group ENEOS Holdings proposes to acquire 100% of the share capital of Chevron Australia Downstream Holdings. This share sale involves Chevron's integrated Australian downstream platform, encompassing fuel and lubricant distribution, Queensland terminals, and a national network of retail service stations.
Eli Lilly – Merida Biosciences
Eli Lilly and Company proposes to acquire 100% of the shares in Merida Biosciences, Inc. This transaction involves a US-based pharmaceutical company acquiring a clinical-stage biotechnology company focused on developing treatments for autoimmune and allergic conditions, including Graves' disease and IgE-mediated allergies.
Merck KGaA / Bio-Techne
German global science and technology company Merck KGaA proposes to acquire 100% of US-based publicly traded life sciences company Bio-Techne Corporation's issued share capital. Both parties supply life science analytical instruments, protein analysis techniques, and cell culture products. The transaction is structured as a share acquisition.
Danfoss - Alfagomma
Danfoss A/S proposes to acquire sole control of Alfa Gomma S.p.A. in liquidazione via a share purchase agreement. The transaction involves fluid conveyance products, including hydraulic and industrial hoses and fittings. Alfa Gomma is currently undergoing voluntary liquidation.
Prysmian - Atkore
Prysmian S.p.A. proposes to acquire 100% of the share capital in Atkore Inc. This share acquisition involves Prysmian, an Australian supplier of fibre optic and energy cables, and Atkore, a manufacturer of electrical and safety infrastructure solutions for construction and infrastructure projects, including conduits and cable management systems.
Still trying to wrap your head around the ACCC’s new merger laws?
We’ve got an overview of the new regime here and guides from leading law firms explaining it all.
⚡ New & Already Decided
National Dental Care – business assets comprising the Steve King Dental Group, QLD
National Dental Care, a national dental services organisation, proposes to acquire 100% of the business assets comprising the Steve King Dental Group. The acquisition is from HK & W Investments Pty. Ltd., The Trustee for KZGD Unit Trust and HK & W Equipment Pty Ltd. The Steve King Dental Group operates five dental clinics in the Cairns region, Queensland.
Itochu Corporation – TC Skyward Aviation (Aviation Capital Group)
Itochu Corporation acquired a 50% shareholding in TC Skyward Aviation U.S., Inc., the holding company for Aviation Capital Group, from Tokyo Century Corporation. This creates a 50/50 joint venture. Aviation Capital Group is a global aircraft asset manager, leasing approximately 300 commercial aircraft to airlines, including in Australia.
Star Hotels Group - Ocean International Hotel, Mackay QLD
Star Hotels Group is acquiring the business and freehold land of OIH Mackay Pty Ltd and Seague Pty Ltd, comprising the Ocean International Hotel in Mackay, Queensland. This hospitality acquisition expands Star Hotels Group's existing presence in the region, adding a 4-star beachfront hotel to its portfolio of venues.
Blackstone - MRC Dickson Holdings
Blackstone-backed Copeland IP Corporation is acquiring MRC Dickson Holdings LLC from MRC Dickson Equity LLC. MRC Dickson Holdings provides environmental monitoring solutions for regulated life sciences applications. Copeland specialises in heating, ventilation, and air conditioning, and refrigeration compression technologies, including monitoring solutions. This is a share acquisition.
Impression Dental Group - Blackburn Dental Centre, VIC
Impression Dental Group, controlled by private equity firm Genesis Capital, acquired 100% of the assets of Blackburn Clinic Dental Centre, a dental practice owned by Dr Andrea Manley and Dr Konstantina Liosis. This asset sale expands the dental support organisation's network into Melbourne's eastern suburbs.
Alceon – Engage Squared
Private capital investor Alceon Private Equity is acquiring technology consulting firm and Microsoft partner Engage Squared. The share sale involves Alceon's subsidiary purchasing 100% of Engage Squared's issued capital. Alceon will ultimately hold a 51-55% equity stake in the firm, operating across Australia, New Zealand, and Japan.
Pacific Investment Management Company – Ingenico
Investment firm Pacific Investment Management Company, LLC is to acquire sole control of Ingenico Group. Ingenico is a global supplier of point-of-sale payment terminals and related solutions, currently owned by funds managed by Apollo Capital Management, L.P. The transaction is a lender-led financial restructuring.
EQT Fund Management – Melbourne Storm
EQT Fund Management, through its BPEA Mid-Market Opportunities fund and Hosta Investment Holdings, intends to acquire a majority of shares in Melbourne Storm. This Victorian-based professional rugby league club competes in the NRL, providing professional rugby league and entertainment services. The share sale includes Melbourne Storm Rugby League Club Limited and Valimanda Pty Ltd.
Triton - Bureau Veritas Fuel & Coal Testing, Inspection and Certification Division
Triton-backed Power BidCos acquired Bureau Veritas' global Fuel & Coal Testing, Inspection and Certification division via a share sale. This transaction involves the Oil & Petrochemicals, Specialties, and Coal sectors. The target entities include IOL Investments B.V., Inspectorate International Ltd and Bureau Veritas Commodities & Trade Inc.
Veritas Capital Fund Management – Trinity Consultants
US private equity firm Veritas Capital Fund Management proposes to indirectly acquire control of US-based environmental health and safety consulting firm, Trinity Consultants. Trinity Consultants provides environmental, air, noise, and water quality services in Australia. This share acquisition will see Veritas gain control of the consulting firm.
Veritas Capital Fund Management – BGIS Group
Funds managed by Veritas Capital Fund Management, via Naples Bidco Limited, have indirectly acquired control of BIFM Jersey Topco Limited and its subsidiaries, the BGIS Group. Veritas invests in technology and technology-enabled solutions. The BGIS Group provides global integrated facilities management services for large-scale built environments, including data centres and government facilities.
Brookfield Corporation Ltd – Brookfield Corporation and Brookfield Wealth Solutions Ltd
Global investment firm Brookfield Corporation and investment-led insurance organisation Brookfield Wealth Solutions, with a US$14.95 billion market capitalisation, will combine under the common ownership of a new parent company, Brookfield Corporation Ltd. This transaction brings together diverse interests in alternative asset management, wealth solutions, and insurance products.
Goldman Sachs - Numantec
Vercelli 79 S.r.l., indirectly owned by Goldman Sachs Asset Management funds, proposes to acquire a majority shareholding and sole control of Numantec. Numantec, sold by White Bridge Investments II S.p.A., Rominvest S.p.A., and minority shareholders, develops and distributes infusion medical devices globally.
Sazerac – Au Vodka
American alcoholic beverage company Sazerac Company, Inc. is acquiring 100% of the shares of UK-based vodka brand Au Vodka Ltd, a subsidiary of Aurous Topco Limited. This share acquisition expands Sazerac's global spirits portfolio within the alcoholic beverages industry.
Bain Capital - Gong cha
Bain Capital, a US-based private equity firm, proposes to acquire 100% of the shares in Gong cha Limited. Gong cha is a global operator and franchisor of premium tea shops, principally focused on bubble tea. It generates revenue from directly operated stores, product sales to franchisees and franchise-related fees.
National Dental Care - Grove Village Dental Centre, South Australia
National Dental Care, a dental services organisation, through its subsidiary NDC Australia Pty Limited, proposes to acquire 100% of the business assets of Golden Grove Village Dental Centre from the trustee for Keramidas Family Trust. Both entities provide general dentistry services in South Australia.
✅ Recently Approved
Tencent – Happibits
Tencent Holdings Limited, through its wholly owned subsidiary Mount Baker Investment Limited, acquired a portion of the share capital of Happibits Inc. Happibits develops, publishes, and operates casual mobile video games. This share acquisition involves an overlap in the development and publishing of mobile video games.
McCormick / Unilever Foods Business
McCormick & Company, Incorporated will acquire Unilever PLC's global foods business, excluding certain segments. Unilever will transfer its Australian foods business to a new entity, Australia Food NewCo, with McCormick acquiring 100% of its shares. This share sale involves a US-headquartered flavour products company and a UK-headquartered fast-moving consumer goods group.
Novonesis – Microbiogen
Novonesis A/S, a global biotechnology company, through its subsidiary Novozymes Australia Pty Ltd, is acquiring 100% of Sydney-based biotechnology firm Microbiogen Pty Ltd. The share acquisition expands Novonesis's industrial enzyme and microorganism portfolio, including Microbiogen's yeast strain research and development for applications like biofuels and food.
Bloomberg - Canoe Intelligence
Bloomberg, Inc. proposes to acquire Canoe Software Inc. through a merger. Bloomberg provides financial news and technology solutions to global financial market participants. Canoe offers a data management and intelligence platform for private markets investment information, facilitating data sharing between General and Limited Partners in Australia and globally.
Lockheed Martin Corporation – Ultra Maritime
Lockheed Martin Corporation, a global aerospace and defence company, is acquiring the entire issued share capital of Ultra Maritime, a naval defence technology business. This share acquisition expands Lockheed Martin's offerings in advanced technology systems and maritime and undersea warfare solutions.
Saint-Gobain - Xypex
Saint-Gobain S.A., through its Canadian subsidiary CertainTeed Canada, Inc., is acquiring 100% of the shares of Xypex Investment Holdings Inc. This transaction involves two manufacturers of building products, specialty construction chemicals, and concrete waterproofing and repair technologies.
Holcim Australia – Burdetts Group
Holcim (Australia) Pty Ltd, a building materials supplier, has acquired the assets and business of Burdett Group Pty Ltd. Burdett's is a family-operated business supplying processed extractive sands, soils, landscaping materials, and ready-mix concrete in Southeast Victoria. Both parties supply sand, hard rock aggregates, and ready-mix concrete.
Endeavour Group – retail liquor site in Horsham, VIC
Endeavour Group proposes to acquire a leasehold interest for 1,018 square metres of retail space in Horsham, Victoria, from Colab (AUS) Pty Ltd. This asset acquisition will establish a new Dan Murphy's store, relocating an existing BWS licence. Endeavour Group operates retail liquor stores and hotels nationwide.
Karmo - Simplr
Karmo Holdings Pty Ltd, a subsidiary of Autoleague Pty Ltd, proposes to acquire 100% of the shares in Submo Pty Ltd (trading as Simplr), a subsidiary of Eagers Automotive Limited. This transaction involves the consolidation of vehicle subscription services across Australia, with Karmo focusing on new vehicles and Simplr on used vehicles.
Coles - supermarket site in Kirkwood (QLD)
Coles Group Limited will lease a new supermarket site in Kirkwood, Queensland, from Kirkwood LFR Development Pty Ltd. This acquisition involves a joint venture between Cadre Pty Ltd and Argus Property Partners Pty Ltd, developing a new neighbourhood centre. The supermarket is anticipated to open around November 2029.
Danaher (Leica Biosystems) - StatLab
Danaher Corporation, through its subsidiary Leica Biosystems, is acquiring StatLab Medical Products via a Stock Purchase Agreement. This transaction involves two suppliers of anatomical pathology equipment, consumables, and workflow solutions, primarily in core histology instruments and consumables.
Incubeta - Datisan
Incubeta Australia Pty Limited, part of the international digital marketing Incubeta Group (controlled by Carlyle Group Inc.), acquired the entire issued share capital of Brisbane-based Datisan Pty Ltd, a Google Marketing Platform and Google Cloud Platform reseller and marketing technology services provider, part of XPON Technologies Group Limited.
Amplifon – GN Hearing
Amplifon S.p.A proposes to acquire all issued shares in GN Hearing A/S. Amplifon is a global hearing care services provider and retailer in Australia, while GN Hearing manufactures and distributes hearing aid devices. This share acquisition carves out GN Hearing's enterprise and gaming business.
Chevron - Woodside asset swap
Chevron Corporation and Woodside Energy Group are undertaking an asset swap. Woodside acquires Chevron's interests in the North West Shelf Gas and Oil Projects and the Angel Carbon Capture and Storage project. Chevron acquires Woodside's interests in the Wheatstone Project and Julimar-Brunello fields, assuming Julimar-Brunello operatorship. The deal involves Australian oil, gas, and carbon capture and storage assets.
Herron Todd White – CJA Lee Property Valuers
Herron Todd White (Bidco) Pty Ltd, part of the Quadrant Private Equity-backed Herron Todd White Group, is acquiring 100% of the shares in CJA Lee Property Pty Ltd from C McMahon Enterprises Pty Ltd and T.J. Shaw Pty Ltd. This transaction involves two property valuation and advisory firms, expanding services in south-east Victoria.
Metal Manufactures - BayWa Solar Systems
Metal Manufactures Pty Limited, trading as MM Electrical Merchandising, is acquiring the business assets of BayWa r.e. Solar Systems Pty Ltd. This transaction involves two wholesale distributors of solar and renewable energy products. BayWa Solar Systems also designs and installs stand-alone power systems, primarily serving Western Australian customers.
❌ Recently Rejected
Kirin – Jamieson Wellness
Kirin Holdings Company, Limited proposes to acquire 100% of the share capital in Jamieson Wellness Inc. This share acquisition will see Kirin, a global beverage and natural health products company (owner of Blackmores), take control of Jamieson, a Canadian-headquartered vitamins and dietary supplements manufacturer with products supplied in Australia.
Editor note: deal both new and rejected
🔁 Pending Deals
Notification — Phase 1 (initial assessment)
Hyne Pallets - Advance Pallets: submitted 7 September 2026; expected 20 Oct 2026; MN-75043 ↗
Flick – GC Pest Control: submitted 4 September 2026; expected 19 Oct 2026; MN-01122 ↗
Velocity Vehicle Group – Fuso assets of Daimler Truck Australia Pacific: submitted 3 September 2026; expected 16 Oct 2026; MN-25035 ↗
Woolworths - supermarket site in Homestead Rd, Orchard Hills, NSW: submitted 3 September 2026; expected 16 Oct 2026; MN-40034 ↗
Apiam – Seymour Equine Clinic: submitted 3 September 2026; expected 16 Oct 2026; MN-95040 ↗
BBFIT - Hanes Australasia: submitted 2 September 2026; expected 15 Oct 2026; MN-10028 ↗
I Squared Capital – oOh!media: submitted 2 September 2026; expected 15 Oct 2026; MN-75054 ↗
MUFG Pension & Market Services - Grow Technology Services: submitted 31 August 2026; expected 13 Oct 2026; MN-35030 ↗
Blackstone funds and Perpetual Trustees – HSBC loan portfolio: submitted 27 August 2026; expected 9 Oct 2026; MN-85047 ↗
WSP - e2m: submitted 26 August 2026; expected 8 Oct 2026; MN-35038 ↗
Lone Star Funds - ContiTech: submitted 20 August 2026; expected 1 Oct 2026; MN-85043 ↗
L'Oréal – Gucci Beauty Licence: submitted 19 August 2026; expected 30 Sep 2026; MN-60035 ↗
Notification — Phase 2 (detailed assessment)
Zoetis – Neogen Genomics Business: submitted 12 May 2026; expected 27 Nov 2026; MN-05013 ↗
Saipem S.p.A - Subsea7 S.A.: submitted 27 April 2026; expected 1 Dec 2026; MN-01072 ↗
Insurance Australia Group – RAC Insurance: submitted 3 March 2026; expected 23 Sep 2026; MN-65005 ↗