Australia's Peter Warren rises as regulator conditionally clears acquisition

Peter Warren Automotive Holdings

04/09/2026 01:51

** Shares of Peter Warren Automotive PWR.AX rise as much as 9% to A$0.845, their highest level since August 31
** Stock set for its best trading session since March 24, if gains hold 
** Australia's competition regulator on Friday approved company's acquisition of Wakeling Automotive Group's new car dealerships, subject to conditions that Peter Warren divest eight dealership sites
** Australian Competition and Consumer Commission (ACCC) found proposed acquisition could substantially lessen competition in supply of new cars, servicing and repairs in Macarthur region
** "Without the conditions, the acquisition would have resulted in Peter Warren operating 25 out of 34 new car dealerships in the region," ACCC Commissioner Dr Philip Williams said.
** Peter Warren expects acquisition to complete in the coming weeks
** Stock down 55% YTD, including the session's moves

 (Reporting by Shivangi Lahiri in Bengaluru)
 ((shivangi.lahiri@thomsonreuters.com))