The merger between the two companies, which have tried to merge before, initially concerned the ACCC
The Australian Competition and Consumer Commission initially said it had concerns about the merger hurting competition, raising the possibility of another failed deal between the two printing giants, which have tried to merge before.
Last month, the ACCC gave its blessing. The merger with PMP results in IPMG shareholders being issued with new PMP shares as consideration, equivalent to a maximum 37% interest in PMP. Approximately 188 million PMP shares will be issued to IPMG shareholders as consideration for the transaction.
NRF fielded an M&A team spanning corporate and competition law. It advised on a wide range of issues, including preparing and negotiating the share purchase deed and dealing with the ACCC’s concerns.
The NRF team was led by Sydney partner John Elliott. Partner Nick McHugh and special counsel Belinda Harvey advised on the competition aspects of the deal.
Ashusrt advised PMP on the deal. Its team was led by corporate partner Anton Harris.
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