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Chemist Warehouse’s billionaire founders have cleared the final hurdle in their long-held ambition to create a listed pharmacy and retail giant, saying they have big ideas for the group which will start trading on the ASX next month after shareholders backed their $30 billion merger deal.The reverse takeover of Sigma Healthcare, a wholesaler and franchiser with brands such as Amcal and Discount Drug Stores, has taken more than a year to be approved by regulators and finally, on Wednesday, shareholders.The deal, which was approved in a 16-minute meeting at a Melbourne pub, will shake up the highly regulated pharmacy industry, creating a business with almost 1000 stores and annual earnings of $1 billion.[ATTACH=full]192172[/ATTACH]
Chemist Warehouse’s billionaire founders have cleared the final hurdle in their long-held ambition to create a listed pharmacy and retail giant, saying they have big ideas for the group which will start trading on the ASX next month after shareholders backed their $30 billion merger deal.
The reverse takeover of Sigma Healthcare, a wholesaler and franchiser with brands such as Amcal and Discount Drug Stores, has taken more than a year to be approved by regulators and finally, on Wednesday, shareholders.
The deal, which was approved in a 16-minute meeting at a Melbourne pub, will shake up the highly regulated pharmacy industry, creating a business with almost 1000 stores and annual earnings of $1 billion.
[ATTACH=full]192172[/ATTACH]
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