Sigma Healthcare (ASX:SIG) has extended the deadline for its proposed $8.8 billion merger with Chemist Warehouse to March 31, 2025.
The pharmacy wholesaler said it expects the necessary documentation for shareholder votes on related resolutions to be released later this month, with the merger's implementation targeted for February 2025.
This comes after the Australian competition regulator cleared the deal last month, following months of delays.
Now, both companies await the approval of key resolutions from Sigma and Chemist Warehouse shareholders, as well as a court sanction.
The merger would unite Sigma's wholesale pharmacy operations, including Amcal and Discount Drug Store brands, with Chemist Warehouse’s expansive network of nearly 600 stores, creating a major player in the retail pharmacy sector.
An extraordinary general meeting notice for Sigma shareholders is expected soon.
Sigma Healthcare’s principal activities are the wholesale distribution of pharmaceutical goods and medical consumables to community pharmacies.
At the time of reporting, Sigma Healthcare's share price was $2.82.