Australia: M&A/Private Equity

Australia’s new merger control regime reflects a series of conservative design choices that are expanding ACCC oversight of dealmaking and creating new regulatory risks reshaping how deal risk is managed in practice. Those settings are driving broad capture and increased process friction, shifting the central challenge for dealmakers from identifying transactions that raise substantive competition concern to navigating uncertainty around notifiability, timing and execution.

In today's retail investment market, transaction success increasingly depends on the quality of execution rather than the asset alone. As buyers conduct deeper due diligence and price risk more carefully, shopping centre owners must proactively manage execution risk—from tenant documentation to regulatory approvals—to maintain competitive advantage and preserve transaction value.

This edition of the K&L Gates Competition and Consumer Law Round-Up examines recent enforcement actions by the Australian Competition and Consumer Commission, including greenwashing allegations, misleading pricing investigations, and record penalties for horticulture code breaches. The newsletter also covers significant merger reviews, authorisations for industry collaborations, and emerging regulatory developments affecting digital platforms and supply chain disruptions.

Singapore and Southeast Asian investors looking to enter the Australian market through M&A face unique regulatory, structural and commercial considerations that differ significantly from their home jurisdictions. This comprehensive guide examines the typical transaction lifecycle, current investment trends between Singapore and Australia, and critical pre-transaction decisions around deal structure, FIRB clearance, and term sheet negotiations that can determine the success of cross-border acquisitions.

HSF Kramer alumnus Tom Bowes reflects on a career shaped by power and infrastructure, life in Japan and the importance of building lasting relationships and giving back.

The ACCC’s FAQ guidance released on 22 June 2026 sets out its expectations for the disclosure by private equity funds in applying for notification waivers under the new mandatory notification merger regime.

Australia's new mandatory merger control regime has completed its first three months of operation, revealing both promising trends and emerging challenges for dealmakers.

The Australian Treasury has released exposure draft legislation that significantly expands capital gains tax obligations for non-residents, introducing new ATO notification requirements for transactions valued at $50M or more and fundamentally shifting due diligence responsibilities from vendors to purchasers. These changes will impact M&A deal processes, compliance timelines, and risk allocation between parties in cross-border transactions involving Australian assets.

Deal Talk is presented by our market‑leading corporate team. It focuses on complex transactions, and the deals, decisions and forces shaping M&A in Australia and globally.