Silk Logistics Holdings (ASX:SLH) said it will seek the approval of the Supreme Court of New South Wales to postpone its June 20 scheme meeting for the proposed acquisition by DP World Australia, according to a Friday filing with the Australian bourse.
The move follows the Australian Competition and Consumer Commission's (ACCC) decision in May to revise its decision date for the proposed acquisition to July 10, which falls after the end date of June 30 outlined in the scheme implementation deed (SID).
The parties have not agreed in writing to extend the end date, although the SID does not automatically terminate if that date passes, the filing said.
Silk also said it does not expect DP World Australia to receive Foreign Investment Review Board (FIRB) approval before June 20, as the board will consult with the ACCC before approving the acquisition.
Shares of the company rose past 5% in recent Friday trade.
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