Sigma Healthcare (SIG AU): Possibility of Merger with CWG Is Still Alive

800 Views04 Oct 2024 08:51

Boomeranged on Fri, 8 Nov 2024 04:35

Sigma Healthcare secures ACCC nod for its merger with Chemist Warehouse Group, subject to the undertaking that Sigma has provided. The ACCC found that, with the undertaking, the proposed merger is unlikely to substantially lessen competition. Update on the shareholders voting on the proposed transaction is expected by the end of the year.

SUMMARY

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.

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