Sigma Healthcare's merger milestone

Sigma Healthcare (ASX:SIG) has received approval from the Australian Competition and Consumer Commission (ACCC) for its proposed merger with Chemist Warehouse Group. This approval is contingent on certain undertakings by Sigma and represents a crucial step forward in the merger process. The merger aims to merge Sigma's distribution strength with Chemist Warehouse's retail expertise.

Sigma's merger process and outlook

The ACCC's decision not to oppose the merger between Sigma Healthcare and Chemist Warehouse Group is pivotal for the merger's progression. The merger is designed to combine Sigma's pharmaceutical distribution capabilities with Chemist Warehouse's retail expertise, creating a robust healthcare entity. Sigma is in the process of preparing documentation for shareholder voting, pending regulatory review expected this year. Further updates, including the timing of an Extraordinary General Meeting for shareholders, will follow the review. Both companies are committed to executing the merger within the revised timeline, aiming for strengthened business and accelerated growth. Sigma's strategic focus remains on maximizing the benefits of this merger for stakeholders.

Executive commentary on merger approval

The ACCC's decision not to oppose the merger is a significant milestone for Sigma and Chemist Warehouse Group. We are now focused on preparing the necessary documentation for shareholder voting, which is subject to regulatory review. This review is expected to occur within the current calendar year. We will continue to work collaboratively to ensure the merger's completion as per the extended timeline.