Australian shares are set to edge up. Iron ore, oil, gold lift on China stimulus efforts. Aussie dollar hits 18-month high. Follow updates here.
The competition regulator has again extended the deadline to decide on the blockbuster merger of Sigma Healthcare and pharmacy giant Chemist Warehouse with the call now expected in later October. Drug wholesaler Sigma said on Wednesday it now expects the ACCC to make a decision on October 24, rather than early October, however this may be subject to change, it added. It has already delayed its decision in early August.
“We continue to cooperate closely with the ACCC to address the matters raised in the Statement of Issues,” Sigma said. In December 2023, Sigma and Chemist Warehouse entered into a merger deal where Sigma would acquire all the shares in Chemist Warehouse in exchange for Sigma shares and a $700 million cash consideration. If the deal moves ahead, Chemist Warehouse shareholders will hold 85.75 per cent of the ASX listed merged entity while Sigma shareholders will hold 14.25 per cent.
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