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LifeHealthcare's merger with Australian private equity firm gets court approval

The Federal Court of Australia approved LifeHealthcare Group Ltd's merger with Pacific Health Supplies BidCo Pty. Ltd., an entity owned by funds managed or advised by Pacific Equity Partners.

Completion of the merger will occur May 11, with LifeHealthcare's shares expected to cease trading on the Australian Stock Exchange at market close the same day.

In addition, a fully franked special dividend of 18 Australian cents per LifeHealthcare share will be paid May 25.

The transaction previously received approval from Lifehealthcare's shareholders.