Mercer buys Pillar

Mercer has emerged as the buyer of Pillar Administration.

Money Management understands that the transaction has been confirmed in an internal communication to Mercer personnel this morning.

The transaction is likely to see a combining of the two companies' administration resources.

The transaction has proceeded ahead of the Australian Competition and Consumer Commission making a final decision on the eligibility of Link Market Services to bid for Pillar. A condition of the NSW Government's sale of Pillar will see it remaining in Wollongong.

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