Latest Australian Competition And Consumer Commission News

Iris Cairns Property Pty Ltd has agreed to acquire Reef Casino Trust in a $177 million cash takeover bid, endorsed unanimously by the Reef Casino Trust board and its largest unitholders.

The Australian Competition and Consumer Commission has signaled no opposition to DP World Australia’s acquisition of Silk Logistics, advancing the deal but leaving key approvals pending.

Cleanaway Waste Management has secured regulatory approval to acquire Contract Resources, positioning itself as a leader in specialised industrial waste services. The deal, set to complete by the end of July, aims to accelerate growth in the decommissioning and remediation market.

The ACCC has approved Cleanaway’s acquisition of Contract Resources, finding no significant threat to competition in Australia’s industrial and waste management sectors. The decision highlights the resilience of competition, especially in the oil and gas services market.

The ACCC has approved DP World Australia’s acquisition of Silk Logistics, concluding it won’t significantly harm competition in container stevedoring and logistics services. The decision follows a thorough investigation into potential market impacts.

Silk Logistics Holdings and DP World Australia have agreed to push back the deadline for their acquisition deal, awaiting a key regulatory decision from the ACCC.

PointsBet Holdings Limited updates shareholders on competing takeover bids, endorsing MIXI’s $1.20 cash offer while highlighting significant uncertainties and lower value in Betr Entertainment’s all-scrip proposal.

betr Entertainment has unveiled a compelling all-scrip takeover offer for PointsBet, featuring an $80 million selective buy-back to provide liquidity and promising significant value creation for shareholders.

Silk Logistics has announced a postponement of its shareholder Scheme Meeting due to an extended review by the Australian Competition and Consumer Commission (ACCC) of DP World Australia’s proposed acquisition.

The ACCC has issued a preliminary Statement of Issues regarding Elders Limited’s proposed acquisition of Delta Agribusiness, signaling potential competition challenges that could affect the deal’s timeline.

The ACCC has raised preliminary concerns that Elders’ proposed acquisition of Delta Agribusiness could reduce competition in rural merchandise supply across key Australian regions, potentially impacting prices and service quality.

REA Group has confirmed it is under investigation by the ACCC concerning its subscription offerings, signaling potential regulatory scrutiny for the property tech giant.