Latest Australian Competition And Consumer Commission News

Duratec Limited has finalised its $12 million acquisition of Pacific Welding Australia, expanding its footprint in the Energy and Mining sectors along Australia’s East Coast and enhancing its self-perform capabilities.

Acrow Limited (ASX:ACF) is set to expand its Industrial Access and Construction Services footprint with a $54.5 million acquisition of Ausgroup and Preston SuperDeck, funded by a fully underwritten $70 million equity raise and a $10 million share purchase plan. The company also upgraded its FY27 revenue and EBITDA guidance by 21% and 15% respectively.

The Australian Competition and Consumer Commission has signalled no objection to Rubik Australia's full acquisition of Qube Holdings, paving the way for the scheme's next legal and regulatory steps. The Qube board also plans a fully franked special dividend, contingent on scheme approval.

Qube Holdings shareholders convened to endorse a $5.20 per share acquisition scheme by Rubik Australia, valuing the logistics firm at $9.3 billion equity and $11.7 billion enterprise value. The deal awaits key regulatory approvals and a rescheduled court hearing before implementation.

Qube Holdings has postponed its second court hearing for the $5.20-per-share takeover by Rubik Australia, awaiting key regulatory approvals. The company plans to proceed with shareholder meetings and intends to pay a fully franked special dividend if the scheme proceeds.

Elders Limited has secured final regulatory approvals from FIRB and ACCC to complete the sale of Killara Feedlot to Australian Meat Group, with transaction completion anticipated by the end of June.

Peter Warren Automotive has withdrawn its initial ACCC application for the Wakeling Automotive acquisition, opting to submit a fresh Phase 1 proposal with remedies to secure regulatory approval.

Magellan Financial Group has won unconditional ACCC approval to merge with Barrenjoey Capital Partners, aiming to complete the deal by early July and rebrand as Barrenjoey Group pending shareholder approval.

MGX Resources is set to exit its Koolan Island iron ore operation, selling to Crestlink for $20.2 million upfront plus potential revenue share, while shifting focus to gold development.

Ampol's acquisition of EG Australia has gained ACCC approval, conditional on divesting 41 overlapping fuel sites to Metro Petroleum to preserve competition in 39 local markets.

The ACCC has approved Ampol’s acquisition of EG Australia, mandating the sale of 41 overlapping fuel retail sites to Metro Petroleum to maintain competition across 39 local markets.

The ACCC has moved Peter Warren Automotive’s acquisition of Wakeling Automotive’s 30 dealership sites into a Phase 2 review amid concerns it could dominate Sydney’s Macarthur region new car market, controlling 25 of 33 dealerships locally.