Ian Reynolds




An international competition lawyer 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 advocacy with both competition regulators and private parties. Ian also has a detailed knowledge of worldwide regulatory regimes and procedures.

Ian is qualified and admitted in England and Wales, and is not yet admitted in Australia.

Key deals

Complex merger matters

Advised Tatts Group on the competition aspects of its AU$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 AU$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 AU$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 AU$350 million sale of its Kmart Tyre and Service business to Continental. Represented Saputo on the second-phase ACCC investigation into its AU$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 AU$8 billion bid for ANZ’s Esanda car and asset finance business.