(Adds details)
Dec 11 (Reuters) - Australia's Sigma Healthcare (SIG) on Monday said it would merge with Chemist Warehouse Group to create a company with a market capitalisation of more than A$8.8 billion ($5.79 billion).
Chemist Warehouse will own 85.8% of the merged company post completion, Sigma said.
The proposed merger will create cost synergies initially estimated at about A$60 million per annum, expected to be realized four years post completion.
Sigma is also undertaking an entitlement offer to raise about A$400 million to provide the working capital required to implement a supply contract with Chemist Warehouse starting July 1, 2024, among others.
($1 = 1.5209 Australian dollars)
(Adds details) Dec 11 (Reuters) - Australia's Sigma Healthcare...
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Last
$2.81 |
Change
0.030(1.08%) |
Mkt cap ! $32.43B | |||
| Open | High | Low | Value | Volume |
| $2.80 | $2.84 | $2.78 | $41.95M | 14.96M |
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| No. | Vol. | Price($) |
|---|---|---|
| 3 | 153620 | $2.81 |
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| Price($) | Vol. | No. |
|---|---|---|
| $2.84 | 6000 | 1 |
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