Business is calling for merger approval timeframes to be slashed after it took 583 days for ANZ’s acquisition of Suncorp Bank to be approved.
ANZ announced it wanted to buy Suncorp in July 2022 and sought approval from the Australian Competition and Consumer Commission in December the same year. The regulator rejected the acquisition last July and ANZ appealed to the Australian Competition Tribunal in August.
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Ronald Mizen is the Financial Review’s political correspondent, reporting from the press gallery at Parliament House, Canberra. Connect with Ronald on Twitter. Email Ronald at ronald.mizen@afr.com
