Nine Entertainment Co. Holdings (ASX:NEC) today announce they welcome the decision by the Australian Competition and Consumer Commission (ACCC) to not oppose the proposed merger of Nine and Fairfax (ASX:FXJ).
The implementation of the Scheme remains subject to the approval of Fairfax shareholders – the meeting is scheduled for 19 November 2018.
If all conditions are satisfied or waived, implementation is scheduled for 7 December 2018.
The Directors of Fairfax unanimously recommend that Fairfax shareholders vote in favour of the Scheme, in the absence of a superior proposal.
Shares in Nine Entertainment Co. Holdings (ASX:NEC) trading 3.27 per cent higher at $1.74