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Grocery wholesaler Metcash Limited (ASX:MTS) says it is forging ahead with its acquisition of Franklins, despite Australia’s competition regulator claiming it will appeal the deal.
Metcash plans to finalise its $215 million purchase of the supermarket chain from South Africa’s Pick n Pay Retailers by Friday.
Last week the Australian Competition and Consumer Commission said it is against the acquisition because of the impact it will have on competition in the grocery sector and, the implications on its ability to protect customers from anti-competitive mergers in the future.
The ACCC is understood to have now secured an urgent court hearing for this Thursday where the appeal will be heard.
In the 2011 financial year Metcash reported a net profit of $251 million.
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Last
$3.90 |
Change
-0.010(0.26%) |
Mkt cap ! $4.302B | |||
| Open | High | Low | Value | Volume |
| $3.92 | $3.95 | $3.90 | $21.07M | 5.420M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 10 | 67068 | $3.90 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.93 | 28166 | 3 |
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| Last trade - 16.10pm 19/09/2025 (20 minute delay) ? |
| MTS (ASX) Chart |