Australian regulators initiated a detailed Phase 2 review of Zoetis Inc.'s proposed $160 million acquisition. The acquisition targets Neogen Corp.'s animal genomics business.
The Australian Competition and Consumer Commission (ACCC) stated the deal would combine the two largest suppliers of genomic testing for cattle and sheep in Australia. This could substantially lessen competition.
The ACCC's probe will examine the impact on a market with few alternatives and significant barriers to entry. The commission also considers the competitive advantage Zoetis would gain from accessing a much larger volume of genetic data on Australian livestock.
Zoetis notified the ACCC of the proposed acquisition in May 2026.