The merger of comparison site operators Compare the Market and iSelect is likely to proceed, following a favourable ACCC review of the competition implications of the deal. The regulator announced that it will not oppose the proposed acquisition of iSelect by Innovation Holdings Australia Ltd, which owns Compare the Market. The ACCC said some market participants expressed concern that the two companies compete closely but its view is that the acquisition would not substantially lessen competition. “One of the major factors for this view is that only a small minority of consumers buy insurance, energy and financial products through Compare the Market and iSelect. Most consumers purchase these products through other distribution channels, such as brokers or direct from the retailer,” it said. And it said the merged businesses would face significant competition from other comparison sites. iSelect will hold a shareholder meeting on Friday (December 9), where it will seek approval for the deal. iSelect shareholders are being offered a cash consideration of 30 cents a share, which represented an 87.5 per cent premium over the closing price of iSelect shares on August 9, the day before the deal was announced.  The iSelect board has recommended that shareholders vote in favour of the scheme. iSelect was listed on the ASX in 2013 at A$1.70 a share and rarely reached that price again. For the past couple of years the share price has struggled along in a range between 15 and 50 cents. iSelect has around 290 employees and generated A$93.1 million of revenue from product provider commissions in 2021/22. Its product comparisons cover private health insurance, life and general insurance, broadband, energy and personal financial products. Compare the Market’s owner IHA, is a foreign owned private company. It also owns Auto & General Insurance Co, which trades as Budget Direct. Compare the Market has 250 employees. Its product comparisons cover insurance, energy personal finance and fuel. IHA’s plan is to maintain iSelect as a wholly owned subsidiary, with the centralisation of some business functions. It has said it will invest in the growth of the business.