Silk Logistics Holdings (ASX:SLH) plans to seek court approval to delay its March 28 Scheme Meeting for its proposed acquisition by DP World Australia, following the ongoing regulatory review by the Australian Competition and Consumer Commission (ACCC), according to a Friday filing with the Australian bourse.
The company noted DP World Australia is unlikely to receive Foreign Investment Review Board (FIRB) approval before March 28, as FIRB typically consults the ACCC before granting clearance.
Silk Logistics will approach the Supreme Court of New South Wales to postpone the scheme meeting and related court dates, the filing added.
The ACCC is expected to declare a final decision on the matter by June 5.
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