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PnP gets extension on Franklin's deal

Jul 29 2011 10:09 Reuters

Company Data

PICK N PAY STORES LIMITED [JSE:PIK]

Last traded 57.90
Change 0.9
% Change 0.02
Cumulative volume 620124
Market cap 28.22bn

Last Updated: 02/09/2014 at 04:25. Prices are delayed by 15 minutes. Source: McGregor BFA

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Pick n Pay extends Franklins deadline

 
Sydney - Australian wholesale firm Metcash has extended a deadline to conclude a deal with Pick n Pay Stores [JSE:PIK] to buy its Franklins stores to allow a court to review the competition regulator's initial rejection of the deal.

The parties exteded the deadline to September 30 from July 31.

"The two month extension has been agreed in light of the fact that the parties are still awaiting judgment in their Federal Court action with the (competition regulator) ACCC," Metcash said in a statement on Friday.
pick n pay stores  |  australia
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