Any merger involving an Australian company with turnover across all its operations of more than $200 million, and either a business or assets of more than $50 million, or a global transaction value above $250 million, will also be reviewed.

Serial acquisitions, which on their own may not come under the purview of the competition regulator, will also come under scrutiny.

Australia is one of only three nations that does not yet require compulsory notification of mergers.

Chalmers will also confirm the ACCC will have to work through mergers faster after criticism from the business sector it takes too long to make a determination.

It will have 30 working days to approve mergers where there is no threat to competition. Reviews of ACCC decisions will be conducted by the Competition Tribunal made up of a federal court judge, an economist and a business leader.

While Chalmers will acknowledge that most mergers have genuine economic benefits, “some mergers can cause serious economic harm. This can happen when businesses are not interested in improving profitability by lifting productivity”.

The new merger laws are slated to apply voluntarily from July 1 next year, with formal application from the start of 2026.

Cut through the noise of federal politics with news, views and expert analysis. Subscribers can sign up to our weekly Inside Politics newsletter.