Australian Watchdog Sends IAG-RAC Deal to Phase 2 Review
The Australian Competition and Consumer Commission (ACCC) has moved IAG's planned acquisition of RAC Insurance (RACI) into Phase 2 review, citing concerns that the deal could substantially lessen competition in Western Australia's insurance market. The transaction is valued at A$1.35 billion, with IAG and RACI both offering motor, home, and contents insurance in the region.
Tickers: $IAG
Topics: competition law IAG insurance industry merger review RAC Insurance