Nine welcome ACCC's decision to allow Fairfax merger

Company News

by Rachael Jones

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

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.