Last Monday, the board of directors of MerryMart Consumer Corp. (MerryMart) approved the voluntary delisting of the company from the Philippine Stock Exchange (PSE) following an acquisition deal arrived at by the company with its listed affiliate, DoubleDragon Corporation (DoubleDragon). The acquisition deal is ongoing until June 16, 2026.
In this regard, MerryMart will be also holding a special stockholders’ meeting on July 7, 2026 to officially vote on the voluntary delisting of its shares.
In the meantime, the shares of the company have been immediately suspended from trading by the PSE for both failing to file within the regulatory period the delisting announcement and submission of its quarterly report.
By the way, the PSE seemed to have been again left out, even though both companies are actively listed in the stock exchange. The acquisition deal was instead referred first to the Philippine Competition Commission (PCC), which consequently gave its approval after clearing and ensuring that the acquisition would not lead to an anti-competitive monopoly. And the Securities and Exchange Commission (SEC) also seemed to have only gotten to know about it upon the filing for the mandatory tender offer.
