WesTrac merger gets the nod

“I am greatly appreciative of the vote of confidence today from Seven shareholders in favour of the merger of Seven and the WesTrac Group, two great companies with excellent management teams,” Stokes said.“We think that the combination of the two companies will offer growth opportunities for all Seven shareholders, and it is that growth potential that prompted us to embark upon this exercise.“The share scheme and TELYS3 Scheme are now subject to a court hearing for approval, and we will not comment further until that process has run its course.” Seven will apply to the Federal Court of Australia for orders approving the schemes at a hearing scheduled for this Friday.If the court approves the share scheme it will lodge the approval with ASIC on Thursday, April 29.

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