ACCC Greenlights Sigma/Chemist Warehouse Merger
The ACCC has approved a merger deal between pharmacy wholesaler Sigma Healthcare (SIG AU) and pharmacy franchiser Chemist Warehouse, saying the transaction won't substantially lessen competition in Australia's pharmaceutical industry.
The merger still requires the approval of Chemist Warehouse and Sigma's shareholders, both of which should be a formality. Plus New Zealand's OIO. This could potentially wrap up late-Dec/early-Jan.
Sigma is up bigly as I type as investors get exposure to Chemist Warehouse's hybrid IPO. However, implied MergeCo pricing appears elevated.
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