Scheme Update - ACCC Resumes Review

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Stock Silk Logistics Holdings Ltd (SLH.ASX)
Release Time 23 May 2025, 9:48 a.m.
Price Sensitive Yes
 Silk Logistics Scheme Update - ACCC Resumes Review
Key Points
  • ACCC has resumed review of proposed acquisition of Silk by DP World Australia
  • ACCC to announce findings by 10 July 2025
  • Scheme meeting currently scheduled for 20 June 2025, End Date under Scheme Implementation Deed is 30 June 2025
Full Summary

Silk Logistics Holdings Limited (ASX:SLH) has announced that the Australian Competition and Consumer Commission (ACCC) has resumed its review of the proposed acquisition of Silk by DP World Australia by way of a scheme of arrangement. The ACCC had previously suspended the timeline for consideration of the matters raised in its Statement of Issues. Silk now notes that the ACCC has updated its public register to advise that it has resumed its review of the Scheme and has set a revised date for announcement of its findings of 10 July 2025. Silk is reviewing its position having regard to the revised ACCC decision date and is discussing next steps with DP World Australia. The Scheme Meeting is currently scheduled for Friday, 20 June 2025, while the End Date under the Scheme Implementation Deed is 30 June 2025. Silk acknowledges that the ACCC's revised date for announcement of its findings falls after the current scheduled date of the Scheme Meeting and after the End Date as set out in the Scheme Implementation Deed. Silk has not received any notice from DP World Australia to initiate consultations to consider extending the End Date, and has not issued any such notice itself. The company will keep the market informed of any material developments in relation to the Scheme or the ACCC's decision-making process.