Shares in Danks Holdings Ltd were suspended from official quotation on the Australian Securities Exchange on Thursday following its acquisition by the joint venture vehicle between Woolworths and US hardware giant Lowe's, Carboxy Pty Ltd.
Lowe's is the world's second biggest home improvement retailer.
Both companies are hoping to take on Wesfarmers' successful hardware chain and cash cow, Bunnings, and carve up Australia's $24 billion hardware market.
Approval for the deal came earlier this month after the Australian Competition and Consumer Commission secured undertakings from Woolworths over competition concerns.
The competition regulator said the undertakings would address its concerns over price discrimination caused by Carboxy acting as both a wholesaler and retailer to Danks' 1500 independent retailers.+
Danks' independent retailers include Home Timber & Hardware, Thrifty-Link Hardware, and Plants Plus stores and will now become Carboxy's retail competitors and wholesale customers.
Carboxy moved to compulsory acquisition of Danks after Carboxy's takeover bid closed on November 19.
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