ACCC v IVF Finance Pty Ltd: an improved merger and acquisition regime in the foreseeable future?

Teresa Garbo

Competition and Consumer Law News

Teresa Garbo, ‘ACCC v IVF Finance Pty Ltd: an improved merger and acquisition regime in the foreseeable future?’ (2021) 37(7) CCLN 70

Introduction

“Prior to Australian Competition and Consumer Commission (ACCC) v IVF Finance Pty Ltd (No 2) (ACCC v IVF Finance (No 2)), the capability of interlocutory injunctions as instruments to assist in the efficient regulation of mergers and acquisitions was all but a reality. In this case, an interlocutory injunction was granted by the Federal Court of Australia on 25 October 2021 to prevent an acquisition between IVF Finance Pty Ltd (IVF Finance) and Healius Ltd (Healius). The acquisition in question involved all of the issued share capital in Adora Fertility Pty Ltd (Adora), as well as three day hospitals under Healius. Such interlocutory relief has rarely been granted in matters involving contraventions prohibiting mergers and acquisitions under Pt IV of the Competition and Consumer Act 2010 (Cth) (CCA), despite constant efforts by the ACCC. One could argue that by granting the interlocutory injunction, the Federal Court in this instance turned away from historical judicial affinities and aided in taking one further step towards the ideal of forging an arguably more effective merger regime in Australia.”

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