Shares of Domain Holdings Australia (ASX:DHG) remained unchanged in recent Friday trade after it said in a late Thursday filing that CoStar Group's proposed acquisition through its subsidiary Andromeda Australia had cleared a key regulatory hurdle with Foreign Investment Review Board approval, bringing the deal one step closer to completion.
The commonwealth government raised no objections to the scheme, subject to conditions acceptable to CoStar, with final approvals still needed from shareholders, the court, and other conditions in the scheme booklet, the filing said.
The board and major shareholder, Nine Entertainment, with around 60.05% of shares, plan to support the scheme, provided there is no superior proposal and the independent expert remains supportive, the filing added.
The hybrid scheme meeting will be held on August 4, with eligible shareholders encouraged to vote by August 2 and advised to review the scheme booklet.
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