Corporate

The ACCC has flagged competition concerns about drug supplier Sigma Healthcare’s proposed $8.8 billion reverse merger with Chemist Warehouse, saying the tie-up could harm independent pharmacies and lessen competition in pharmacy retail.

A judge has thrown out a shareholder’s case against Slater & Gordon over the firm’s takeover by private equity firm Allegro, after finding the firm was not the proper target for the claims. 

A law firm that has gone after major banks and the federal government over their climate exposure has trained its sight on the National Australia Bank.

The High Court will not hear mining magnate Clive Palmer’s challenge to a court’s finding that lawsuits he brought challenging two criminal cases against him over a takeover bid and alleged payments to his political party were an abuse of process and should be stayed.

MinterEllison’s Perth office has welcomed a new energy and resources expert from Dentons, fleshing out the firm’s Western Australian capabilities. 

Global Payments’ plan to acquire Sydney software company School Bytes Learning may substantially lessen competition, the Australian Competition and Consumer Commission has said in outlining preliminary concerns with the deal.

Baker McKenzie has been dragged into a court case brought by a shareholder and creditor of failed energy company Armour Group, which alleges the law firm was knowingly involved in a plan by China-based Shunkang Group to take control of the company for cheap.

The Australian Competition and Consumer Commission has expressed concerns that France-based Louis Dreyfus’ proposed acquisition of ASX-traded cotton gin operator Namoi Cotton could substantially lessen competition and lead to higher prices for ginning services.

The Australian Securities and Investments Commission is investigating ANZ’s dealings in its role as risk manager of 10-year government treasury bonds worth $14 billion. 

Collapsed construction and maintenance company General Trade Industries has lost its bid to revive abandoned claims against AGL in a nearly four-year old contract case over work on two Queensland gas plants, with a judge finding the company has had “more than a sufficient opportunity to plead its case”.