QLD court approves TPG-PIPE merger

The Supreme Court of Queensland has approved the proposed acquisition of backhaul operator PIPE Networks (ASX:PWK) by ISP TPG Telecom (ASX:TPG).

The merger is now cleared to take place, after PIPE shareholders last week voted in favour of the $6.30 per share offer.

PIPE shares will be now transferred to TPG on March 31, and PWK will be delisted by April 7, unless TPG sets a later date.

Entitlements will be determined on March 24, and cheques will be mailed on April 7.