Daily Brief Australia: Sigma Healthcare, Pilbara Minerals and more

• Sigma Healthcare (SIG AU) has offered a court-enforceable undertaking to alleviate preliminary anti-competition concerns raised by ACCC in relation to its proposed merger with CWG.
• Sigma will let its franchisees who entered their franchising arrangements prior to January 1, 2024 to terminate their franchise agreements with Sigma without any penalty, for the next three years.
• The company will also limit the usage of confidential information from its wholesale customers and franchisees for the next three years. Final decision of ACCC is expected on November 7.

• An $271 million block trade of Pilbara minerals occurred, representing nearly 3% interest in the stock of the lithium miner
• The trade was part of a secondary share sale stemming from an equity collar transaction for China’s Ganfeng, which owns 5.7% of Pilbara
• Equity collars are a trading strategy using options to protect downside, with the block trade price at a 4% discount to the last close

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