The Ampol Ltd (ASX: ALD) share price is in focus today after the ACCC referred its proposed acquisition of EG Australia to a Phase 2 review, requiring further scrutiny under the new merger regime.
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What did Ampol report?
- The ACCC has moved Ampol's acquisition of EG Australia to a Phase 2 assessment.
- Ampol's offer to divest 19 retail fuel sites was deemed insufficient to address competition concerns.
- The ACCC identified 115 EG sites where competition could be substantially lessened.
- Concerns raised about competition in the retail supply of petrol and diesel, particularly in metropolitan areas.
- This is the first acquisition subject to a Phase 2 review under the new regime effective from 1 January 2026.
What else do investors need to know?
The ACCC's decision means the acquisition faces heightened regulatory scrutiny and a longer path to approval, which may affect the timeline of Ampol's transaction with EG Australia. The review targets both localised and broader metropolitan market impacts, especially in major cities such as Sydney, Melbourne, Brisbane, and Canberra.
Parties are invited to make submissions on the Phase 2 Notice by 4 February 2026. The outcome of this process could influence Ampol's future position and expansion plans in the Australian fuel retail sector.
What's next for Ampol?
Ampol must now await the ACCC's in-depth Phase 2 review, which can take up to 90 business days unless extended. The company may need to propose further site divestments or other undertakings to satisfy competition concerns.
Investors should watch for updates from both the ACCC and Ampol, as the review's outcome will determine whether the transaction is ultimately approved or blocked under the new mandatory regime.
Ampol share price snapshot
Over the past 12 months, Ampol shares have risen 1%, trailing the S&P/ASX 200 Index (ASX: XJO) which has risen 5% over the same period.
