Australia: M&A/Private Equity

Australia's mandatory merger control regime undergoes significant refinement through new legislation that addresses practical challenges businesses have faced since its 2026 introduction. The amendments fundamentally reshape how control and associate relationships are assessed, what happens when acquisitions aren't properly notified, and how parties can manage completion timelines for approved mergers.

The paper examines key Australian tax issues bearing on the current Australian M&A market including the proposed reforms to Australia's foreign resident capital gains tax regime, the tax treatment of contingent consideration and earnout arrangements, and the use of capital gains tax roll-overs in recent M&A transactions.

FY26 saw a steady stream of successful control transactions despite geopolitical tensions and shifting monetary policy settings. Mega deals returned to levels in line with the five-year average, private equity bidding increased, and total deal value rose.

ASX Listing Rule 7.1 generally restricts an ASX-listed entity from issuing more than 15% of its issued capital in a 12 month period without shareholder approval, other than in accordance with exceptions set out in Listing Rule 7.2.

If you hold at least 90% of the shares in a company, you can compulsorily acquire the remaining shares. A process known as compulsory acquisition. This framework allows you to access the benefits of full ownership, including streamlined decision-making, elimination of minority shareholder disputes, and complete control over corporate strategy. It also serves an important commercial purpose by facilitating corporate consolidation and removing the complexities of fragmented ownership structures. This article outlines the different ways compulsory acquisition of shares may occur and how each works.

Australia's federal government welcomes foreign investment, but the Foreign Investment Review Board (FIRB) regime has become increasingly complex. This comprehensive guide examines critical considerations for foreign investors, including investor profiles, investment types, mandatory filing thresholds, available exemptions, procedural requirements, filing fees, and the Treasurer's enforcement powers.

Delivering a data centre in Australia requires early and informed navigation of a complex legal and regulatory landscape. Site selection must account for power...

Australia’s new merger control regime has been in force since 1 January 2026, with the ACCC noting it is ‘off to a positive start’.

Justice Lee's recent Star Entertainment decision has sparked questions about its implications for mergers and acquisitions activity.