SYDNEY—Australian drug supplier Sigma Healthcare agreed to merge with privately owned pharmacy operator CW Group, creating a listed company worth more than 8.8 billion Australian dollars (US$5.79 billion).
Sigma on Monday said it would pay A$700 million in cash and issue sufficient new shares for CW Group, the operator of Australia’s prominent Chemist Warehouse pharmacy chain, to own 86% of the combined company. Shareholders of Sigma, which has a market capitalization of A$810.4 million, would own the remainder.
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