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Comment: Australian M&A regulatory overhaul points to broader interventionist-policy pivot

By Ryan Cropp ( August 7, 2024, 07:11 GMT | Comment) -- In recent months, Australia’s antitrust legal fraternity has been up in arms over what it sees as a lack of “procedural fairness” in the country’s new, soon-to-be-legislated merger-control regime. In the current policy environment, though, they may be wasting their breath. With the government actively promoting an ambitious new industrial policy agenda as the economic centerpiece of its reelection strategy, the move to an administrative merger regime may be better understood as a local manifestation of a wider global shift towards greater state intervention in key industries and markets.Plugging Australia’s merger-law overhaul in Melbourne last week, Assistant Treasurer Andrew Leigh was at his big-picture best, positioning the government’s sweeping new changes as the culmination of over 50 years of policy innovation....

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