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Comment: Opposition to Google's Fitbit move leaves Australia as a global M&A outlier

By Laurel Henning and James Panichi ( March 26, 2021, 04:16 GMT | Comment) -- After appearing to allow the EU regulator to take the lead in the review of Google’s $2.1 billion acquisition of Fitbit, the Australian competition regulator shocked the world by announcing its readiness to push back on the deal. The muscular stance highlighted the Australian Competition & Consumer Commission’s stated skepticism about legal undertakings — the same behavioral commitments that were accepted by the European Commission — and its concerns about the competition risks associated with Google’s accumulation of data. More importantly, the ACCC’s decision revealed that the Australians were ready to go it alone in taking on Big Tech.When Australia’s competition watchdog first placed Google’s $2.1 billion acquisition of smartwatch maker Fitbit under the microscope, the review was emblematic of the Australian Competition & Consumer Commission’s drive for greater international cooperation on global deals....

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