The new mega-chemist and wholesale supplier will be to retail pharmacies what Bunnings is to hardware,what JB Hi-Fi is to electronics or what Dan Murphys is to booze.
The $8.8 billion merger will see the combined company operate 700 stores,or 16 per cent of all pharmacies across Australia. Sigma’s shares skyrocketed on the news.
A multibillion-dollar Chemist Warehouse deal would entrench its domination of Australia’s pharmacy sector. But the competition watchdog isn’t yet convinced it’s healthy for customers.
Australia’s competition watchdog has raised concerns that Chemist Warehouse’s planned merger with Sigma Healthcare into an $8.8 billion titan will hurt rivals in the pharmacy sector.
Putting aside the strength of arguments from the merger parties and the regulator,the facts are that an ACCC amber light more often turns to red than to green.
Chemist Warehouse has provided a rare glimpse of its financial figures as it gears up for a blockbuster ASX listing via a merger with Sigma Healthcare.
More than $89 million worth of Sigma shares were traded on Wednesday,a staggering jump on the daily average of $2 million.
Chemist Warehouse plans to list on the Australian Securities Exchange via a merger with Amcal owner Sigma Healthcare.
The pharmaceutical giant will conduct a reverse takeover of Sigma Pharmaceuticals to create a multibillion-dollar healthcare business.
Pharmacy operator Sigma Healthcare is carving a new niche as it competes with chemist chains like Priceline and Chemist Warehouse.
The pharmaceutical wholesaler’s boss made the shock decision to leave the company on Monday after 11 years at the helm.