Sigma Healthcare hits record high on nod for $5.8 bln Chemist Warehouse merger
07/11/2024 24:00
** Shares of Australia's Sigma Healthcare SIG.AX soar as
much as 38.8% to a record high of A$2.70
** SIG shares mark their best intraday pct gain since
mid-December 2023, top gainers in the ASX200 benchmark index
.AXJO
** More than 17.6 mln shares change hands, vs the 30-day
average of 9.5 mln shares
** Wholesale pharmaceuticals distributor SIG receives
Australian competition watchdog's approval for an A$8.8 bln
($5.78 bln) merger with Chemist Warehouse
** Regulator says merger unlikely to substantially lessen
competition; SIG needs to lift restrictions over franchises
allowing them to opt out of agreement without penalties, making
it easier for pharmacies to switch network
** SIG shares have more than doubled in value so far this
year, rising 152%, leaving the ASX200 benchmark's 7.8% gain far
behind
($1 = 1.5230 Australian dollars)
(Reporting by Kumar Tanishk and Sameer Manekar in Bengaluru)
((Tanishk.Kumar@thomsonreuters.com;))