In an Australian first, the Federal Court has ordered Cryosite Limitedto pay penalties of $1.05 million for cartel conduct, following proceedings commenced by the Australian Competition and Consumer Commission for gun jumping.
We take a look at the key aspects of the guidelines and provide practical compliance tips to avoid running afoul (even unintentionally) of the misuse of market power and concerted practices prohibitions.
In an Australian first, the ACCC has commenced civil cartel proceedings for alleged “gun-jumping” before completion of an M&A transaction. In this Insight, we discuss the ACCC’s proceedings against Cryosite Limited, and provide suggestions to minimise the risks of "gun-jumping" in other transactions.
