Woolworths Limited
(ASX:WOW) has postponed the final bid deadline for its hardware business sale following the ACCC’s decision to extend industry consultation regarding the deal.
If successful, the deal would see Metcash-owned Mitre 10 purchase the Masters Home Timber & Hardware businesses.
The ACCC is assessing the proposed deal and its potential impact on the $45 billion home-improvement market.
If the merger proceeds it would reduce the number of full-service wholesalers from two to one, creating a $2.2 billion distributor in the process.
Woolworths Limited reported a net loss of $2.09 billion at 3 January 2016.
