A corporate regulator has raised competition concerns about Chemist Warehouse’s $8.8 billion merger with Sigma Healthcare, a key supplier to thousands of independent pharmacies. The Australian Competition and Consumer Commission has identified a range of preliminary concerns, including at the retail level. “The transaction would create a merged company that is uniquely vertically integrated across multiple levels of the pharmacy supply chain,” ACCC Commissioner Stephen Ridgeway said on Thursday.
Sigma Healthcare said the regulator’s statement of issues was not unexpected for a transaction of such complexity and noted they reflected the agency’s preliminary views, not its final findings. The two companies consider that there are good arguments why the proposed merger would not lessen competition and will continue to engage with the ACCC to address its concerns, a statement said.
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