Ian Reynolds

Special Counsel



An international competition expert with a strong M&A focus, Ian project manages complex domestic and cross-border mergers, cartel and other matters for a range of clients in many sectors.

Ian provides competition support to corporate and M&A teams on deal timing, structures and contractual documents. He has expertise working on complex commercial arrangements, in particular in the M&A, joint venture and distribution contexts. He has experience in negotiation and liaising with both competition regulators and private parties. Ian also has a detailed knowledge of worldwide regulatory regimes and procedures.

Key deals

Complex merger matters

Advised Tatts Group on the competition aspects of its A$11 billion contested tie-up with Tabcorp in the ACCC process and before the Australian Competition Tribunal and Full Federal Court.

Pharmaceuticals, medical and animal health

Acted for Novartis on its A$30 billion global asset swap with GSK in the oncology, vaccines and consumer healthcare segments. Acted for Novartis in obtaining first-phase clearance decision for the A$7.5 billion sale of its animal health business to Eli Lilly’s subsidiary Elanco. Both at a previous firm.

Consumer, FMCG and retail

Acted for Wesfarmers on the A$350 million sale of its Kmart Tyre and Service business to Continental. Represented Saputo on the second-phase ACCC investigation into its A$1.3 billion acquisition of Murray Goulbourn and the potential divestiture of a major milk processing asset, while at a previous firm.

Oil and gas/resources

While practising in the EU, Ian acted for Acergy on its €11 billion combination with Subsea7 in the oil and gas services markets, resolved in first phase by a complex remedy.


At a previous firm, acted for Seven Group entities on the launch of a subscription video-on-demand joint venture, and in two in-depth merger investigations of its attempted acquisition of Consolidated Media Holdings and its acquisition of The Sunday Times from News Limited.

Financial services

At a previous firm, Ian represented Macquarie’s corporate and asset finance division on its successful A$8 billion bid for ANZ’s Esanda car and asset finance business.