Australia's new merger control regime is working as expected and the ACCC is meeting its commitments on decision timelines, according to data from its first three months of operation.
Between 1 January 2026, when the new regime commenced, to 31 March, the ACCC received 50 merger notifications and 108 waiver applications. This does not include the 13 notifications received during the transitional period between 1 July and 31 December 2025 when voluntary notifications became available.
Notifications and waivers received as at 31 March 2026
Note: 13 acquisitions were notified during the voluntary transition period (July to December 2025). Notification waivers only became available from 1 January 2026.
The ACCC has approved 39 notifications in phase 1, and two notifications were progressed to phase 2 for a more in-depth assessment.
Under the new regime it is mandatory for businesses to notify the ACCC of any proposed acquisition that meets notification thresholds set by the Minister. Businesses must wait for ACCC approval before they can proceed with a notifiable acquisition.
The average time taken for the ACCC to approve a notification in phase 1 was 18 business days.
Waivers, a streamlined process for simpler acquisitions that clearly do not raise material competition concerns, were decided on average in 11 business days. The ACCC granted 70 notification waivers and six were not granted. Acquisitions not granted a waiver need to be formally notified to the ACCC before proceeding, if they meet the thresholds.
Overview of notifications and waivers (1 July 2025 - 31 March 2026)
Note: The two notifications that were progressed to Phase 2 are Ampol's acquisition of EG and Coles' acquisition of a supermarket and liquor site in Kalgoorlie, WA.
"Although it is only early days, we are pleased with how the new regime is progressing. We consider that the early performance figures indicate that the systems and processes are working as intended which is a positive start to the new regime," ACCC Chair Gina Cass-Gottlieb said.
"Importantly, it is allowing us to build a greater understanding of patterns of consolidation in different sectors."
"We had committed to deciding around 80 per cent of acquisitions within 20 business days either through an early phase 1 decision or notification waiver. We are currently meeting this commitment with 91 per cent of acquisitions decided in this timeframe."
Timeliness of decision making (1 July 2025 - 31 March 2026)
Note: A business day has the meaning given in section 51ABK of the Act. A day that is not: a Saturday, a Sunday, a public holiday in the Australian Capital Territory, or a day occurring between 23 December in any year and the following 10 January (inclusive of those days).
Business day 15 in Phase 1 is the earliest the ACCC can make a decision to approve a notification under the legislation.
The review timelines were extended on two occasions, both following a request from the merger parties.
All decisions about notified acquisitions and waiver applications and the review timelines are published on the ACCC's acquisitions register.
"Increased transparency is an important feature of the new regime, allowing stakeholders to see the acquisitions coming to the ACCC and the ACCC's reasoning," Ms Cass-Gottlieb said.
"We remain focussed on administering the new regime transparently and efficiently and we will continue to report on our performance and the key trends as the regime beds down."
Further details about how the regime is operating are on the ACCC website.
Background
The ACCC publishes details of each notification and key decisions on the Acquisitions Register. The ACCC is required to make a decision in 15 to 30 business days in Phase 1, subject to any extensions, to either approve the acquisition or decide that further review in Phase 2 is necessary.
The ACCC can decide a Phase 2 review is necessary if the ACCC is satisfied that the acquisition could be likely to have the effect of substantially lessening competition in any market.
The Phase 2 period is up to 90 business days, unless extended under specific circumstances.
More guidance on the new merger regime can be found on the ACCC's website: Guidance documents for the merger control regime
