Magellan Financial Group's (ASX:MFG) proposed acquisition of Barrenjoey Capital Partners is under a phase one investigation by the Australian Competition and Consumer Commission (ACCC), the regulator said Tuesday.
The ACCC is seeking comments on the proposed merger in a consultation that runs through May 27.
Magellan recently agreed to merge with Barrenjoey and issue 106.8 million shares as consideration for the deal.
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