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HiTech Group Australia Limited (ASX:HIT)

ALERT: Price-sensitive ASX Announcement for HIT
Current share price for HIT : $1.085 -0.265 (-19.63%)+
Announcement
Release
26 Aug 2026 7:58AM
Price at Release
$1.350
Full Release
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Summary
HiTech Group Australia Limited announced that the Australian Competition and Consumer Commission (ACCC) has granted unconditional Phase 1 clearance for its acquisition of certain assets of Hudson Global Resources, which underwent voluntary administration in April 2026. The ACCC's decision concluded that the acquisition would not significantly impact competition in the relevant market. This clearance removes a major hurdle for the acquisition's completion, pending the absence of any applications for review within 14 days of the ACCC's decision publication. The acquisition is anticipated to be finalized shortly, as authorized by HiTech's Board.
Key Points
  • HiTech Group Australia Limited received ACCC clearance for acquiring Hudson Global Resources assets.
  • The ACCC determined the acquisition would not substantially lessen competition.
  • The acquisition followed Hudson Global Resources entering voluntary administration in April 2026.
  • Completion of the acquisition is expected soon, barring any review applications within a 14-day period.
  • The announcement was authorized by the Board of HiTech Group Australia Limited.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.