Seven merger decision to be delivered on Tuesday

SYDNEY: A Federal Court decision on Seven Network's A$3 billion ($3.88 billion) merger with Kerry Stokes' privately-owned industrial equipment business WesTrac will be handed down on Tuesday.

Justice Peter Jacobson told the court yesterday that he would deliver his decision on Tuesday morning on the scheme of arrangements for the union, the final hurdle in the proposed tie-up.

Seven Network shares will be suspended from trade on the Australian Securities Exchange on April 29, with the merged company - to be called Seven Group Holdings - to trade on a deferred settlement basis from April 30.

Stokes, executive chairman of Seven Network, will emerge with 68 per cent of the new company.

Seven Network's shareholders consented to the merger of the media company and Perth-based Caterpillar earthmoving equipment dealer WesTrac at meetings in Sydney on Tuesday. Of the total votes cast, 88.7 per cent were in favour.

Seven Network deputy chairman and independent director Peter Ritchie said at Tuesday's shareholders' meeting the deal was "great" and WesTrac would overtake media as SGH's main business in coming years.

"The WesTrac side of this organisation is going to be the core of it in five years' time - mark my words."

- AAP