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Steadfast's creeping acquisitions are 'alarming,' Australian official says

By Saloni Sinha and James Panichi ( November 6, 2024, 07:18 GMT | Insight) -- Australia’s largest network of insurance brokers, Steadfast Group, has attracted the attention of merger regulators over a dealmaking campaign that a government official has compared to the controversial creeping acquisitions of pet-supplies retailer Petstock. Top Treasury Department official Marcus Bezzi revealed that the Australian Competition & Consumer Commission had identified several companies, including Steadfast, as engaging in “alarming” unnotified creeping acquisitions that could raise competition concerns.Steadfast Group, Australia’s largest network of insurance brokers, has attracted the attention of merger regulators over a dealmaking campaign that a government official has compared to the controversial creeping acquisitions of pet-supplies retailer Petstock....

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