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Citing Facebook parent Meta’s purchase of Instagram in 2012 and WhatsApp in 2014, Gina Cass-Gottlieb said it was important the ACCC was able to think broadly about merger effects.
Lawyers and bankers will lose from the merger overhaul that attempts to tackle economic concerns that industry concentration has led to higher prices and fewer start-ups.
The tech industry has warned that the federal government’s proposed tougher merger laws would make it harder for founders to sell their businesses, stymying start-up returns.
Treasury’s proposal to force companies to prove that planned mergers won’t harm competition is “an unwarranted interference in commercial activity”, legal experts warn.
Patties Foods is behind the Four'N Twenty pie brand