The last major hurdle to the merger of IOOF Holdings and Australian Wealth Management (AWM) has been cleared, with the companies completing due diligence.
The two companies announced to the Australian Securities Exchange “the satisfactory completion of the mutual confirmatory due diligence exercise”.
However, they said the merger remained subject to a number of other conditions, including AWM shareholder approval, court approval and regulatory approvals.
A meeting of AWM shareholders to approve the proposed merger is expected to be held in March, with the merger to be completed in late March or early April next year.
