Chemist Warehouse is set to list on the ASX through a merger with Sigma Healthcare, creating an entity with a combined valuation of approximately $8.8 billion.
The deal involves Sigma acquiring 100% of Chemist Warehouse's shares, with shareholders receiving $700 million in cash.
The merger aims to establish a leading healthcare wholesaler, distributor, and retail pharmacy franchisor.
Sigma aims to raise $400 million to integrate its wholesaler and franchise pharmacy business with Chemist Warehouse's 600-store network.
Post-merger, Chemist Warehouse shareholders, including founders Jack Gance and Mario Verrochi, will hold 85.75% of the combined entity and will have representation on the board.