ACCC v Pacific National Pty Ltd

In assessing whether an acquisition would have the effect, or be likely to have the effect, of substantially lessening competition under s 50 of the Competition and Consumer Act 2010 (Cth), the Full Federal Court held that a court-enforceable behavioural undertaking offered by the acquirer may be taken into account in the counterfactual, and on the evidence Pacific National's proposed acquisition of Aurizon's Acacia Ridge intermodal rail terminal, coupled with an access undertaking, was not likely to substantially lessen competition.