Sigma Healthcare (SIG AU): ASX200 Inclusion Now, MUCH More Squeezy Fun Later. Maybe...
In early December, pharmacy distributor Sigma Healthcare (SIG AU) arranged a "transformational merger" with mega chain Chemist Warehouse (CWG). Effectively a reverse takeover designed to get CWG listed.
SIG issued shares, raising cash, enabling it so NEWCO had high enough minimum float upon merging. Financial engineering for the win. SIG popped - a kind of IPO premium trade.
But plenty of people are against the deal, and ACCC hasn't yet opined (13 June is the provisional date), but on Thursday, S&P announced SIG would join ASX200 despite risks.
Keep reading with a 7-day free trial
Subscribe to Aussie/Kiwi M&A/Events to keep reading this post and get 7 days of free access to the full post archives.