Chemist Warehouse may have to sell off part of its store network to convince the competition regulator that plans to merge with Sigma Healthcare in an $8.8 billion backdoor listing would not lessen competition and lead to higher prices.
The Australian Competition and Consumer Commission described the merger plan as a major structural change and said it was particularly concerned about the impact on smaller pharmacies that are supplied by Sigma, a major wholesaler.
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Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club. Connect with Carrie on Twitter. Email Carrie at carrie.lafrenz@afr.com
Tom Richardson writes and comments on markets including equities, debt, crypto, software, banking, payments, and regulation. He worked in asset management at Bank of New York Mellon and is a member of the CFA Society of the UK as a holder of the Investment Management Certificate. Connect with Tom on Twitter. Email Tom at tom.richardson@afr.com
