Applications by Tabcorp Holdings Limited [2017] ACompT 5

Applications by Tabcorp Holdings Limited [2017] ACompT 5

The Tribunal determined that, after weighing all evidence including further material on regulatory changes, competitive effects, and claimed benefits, the proposed acquisition would not be likely to result in any material lessening of competition in relevant markets. Public benefits arising from cost savings, synergies, increased scale, and expected improvements to product offerings, as well as flow-through to the broader community, were found substantial, durable, and merger-specific. No plausible or substantial anti-competitive detriment was established. Accordingly, the net public benefits test under s 95AZH was met, and conditional authorisation was granted, subject to divestment of...

Jurisdiction
Australia
Judgment Date
22 November 2017
Procedural Posture
Merger Authorisation Application / Determination Following Remittal From Full Federal Court
Outcome
Authorisation granted subject to condition
Legal Topics
['authorisation of Acquisitions Under Competition and Consumer Act 2010 (cth)' 'public Benefit Test (s 95 Azh)' 'net Public Benefits Analysis' 'market Definition and Competition Analysis' 'exclusive State Wagering Licences' 'racing Media Rights' 'gaming Services' 'lottery and Keno Markets' 'effect of Regulatory Changes on Market Competition']
['competition Law' 'merger Control' 'administrative Law'] ['authorisation of Acquisitions Under Competition and Consumer Act 2010 (cth)' 'public Benefit Test (s 95 Azh)' 'net Public Benefits Analysis' 'market Definition and Competition Analysis' 'exclusive State Wagering Licences' 'racing Media Rights' 'gaming Services' 'lottery and Keno Markets' 'effect of Regulatory Changes on Market Competition']

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 1 Authorities cited 2 Party arguments 2 Amounts and remedies 1
Sign in to unlock

Procedural Posture

Merger Authorisation Application / Determination Following Remittal From Full Federal Court

Legal Issues

  1. 1 ['Whether the acquisition of Tatts by Tabcorp should be authorised under s 95AT Competition and Consumer Act 2010 (Cth) based on the public benefit test in s 95AZH; including assessment of any material detriment from a lessening of competition and balancing of public benefits and detriments arising from the proposed merger.']

Ratio Decidendi

The Tribunal determined that, after weighing all evidence including further material on regulatory changes, competitive effects, and claimed benefits, the proposed acquisition would not be likely to result in any material lessening of competition in relevant markets. Public benefits arising from cost savings, synergies, increased scale, and expected improvements to product offerings, as well as flow-through to the broader community, were found substantial, durable, and merger-specific. No plausible or substantial anti-competitive detriment was established. Accordingly, the net public benefits test under s 95AZH was met, and conditional authorisation was granted, subject to divestment of...

Court Disposition

Authorisation granted subject to condition

Orders

  • ['Tabcorp Holdings Limited is granted authorisation under s 95AT and s 95AZJ of the Competition and Consumer Act 2010 (Cth) to acquire shares in Tatts Group Limited as per the Merger Implementation Deed dated 18 October 2016, subject to the condition that Tabcorp provide the ACCC with an undertaking under s 87B in...