The Australian Competition and Consumer Commission (ACCC) delayed its proposed decision date regarding the potential divestment of Capitol Health's (ASX:CAJ) Melton clinic in Victoria, according to a Friday filing with the Australian bourse.
The consumer watchdog delayed its decision to allow additional time to consider the divestment, the filing said.
The divestment is contingent on the implementation of Integral Diagnostics' (ASX:IDX) proposed merger with Capitol Health via a scheme of arrangement.
Integral Diagnostics has engaged with the ACCC regarding the potential divestment and is awaiting informal merger clearance from the regulator.
While a new proposed decision date has not been set, Capitol Health expects the decision will be made in December. The shareholder meeting to vote on the scheme is scheduled to proceed as planned on Dec. 2, the filing added.
Earlier, Capitol Health said the Federal Court of Australia will hear on Dec. 4 its application seeking the approval of the scheme of arrangement relating to its proposed merger.
Capitol Health and Integral Diagnostics have now agreed on amendments to the scheme to ensure sufficient time for Capitol's share registry to process and pay unmarketable parcel shareholders.
The amendments will be subject to court approval at the court hearing.
Shares of Capitol Health and Integral Diagnostics each fell past 1% in recent Friday trade.
Price (AUD): $0.36, Change: $-0.01, Percent Change: -1.36%
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