Virtus abandons proposed acquisition of Adora

Virtus has announced it will not proceed with its acquisition of Adora Fertility.

Earlier in the year Virtus announced it would complete the transaction despite the ACCC not having completed its informal review. This prompted the ACCC to launch Federal Court proceedings and it was granted an interlocutory injunction restraining the completion of the acquisition pending further proceedings.

In light of today’s announcement the ACCC will seek to discontinue its proceedings.

See ACCC media release.