Court avoided as JB Were achieves harmony on merger
(Australia) Broking house JB Were has avoided seeking a court approved scheme of arrangement to usher in the merger with Goldman Sachs.
The company had considered this path after initially failing to gain unanimous support for the merger among its shareholders.
However, the two shareholder partners who had voted against the merger appear to have fallen into line.
JB Were executive chairman Terry Campbell told staff that all 95 shareholders now agreed on the merger, which made the court approved scheme of arrangement "no longer necessary".
He went on to say that the company expected the final stages of the integration process would take two to three weeks "with close to follow shortly after".
However, the two shareholder partners who had voted against the merger appear to have fallen into line.
JB Were executive chairman Terry Campbell told staff that all 95 shareholders now agreed on the merger, which made the court approved scheme of arrangement "no longer necessary".
He went on to say that the company expected the final stages of the integration process would take two to three weeks "with close to follow shortly after".
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