SEVEN Network’s $3 billion merger with Kerry Stokes’s privately owned industrial equipment business has been approved by the Federal Court.
Justice Peter Jacobson gave the scheme of arrangements for the union the green light today.
“There’s nothing to suggest that the unrelated shareholders or the TELYS3 holders voted otherwise than in good faith,” Justice Jacobson said in his decision.
“Or they cast their vote for any improper purpose. The test of reasonableness appears to be satisfied.”
Federal Court approval was the final hurdle in the proposed tie-up.