approval

The Australian Competition and Consumer Commission has approved the News Corp (ASX:NWS) for ConsMedia (ASX:CMJ).

Murchison Metals (MMX) can finally sell its stake on the Oakajee Port and rail project after the Foreign Investment Review Board (FIRB) approved the $325 million deal between the miner and the Japanese company Mitsubishi.

Pharmaxis (ASX:PXS), an Australian biotech listed company has been approved in Europe to distribute Bronchitol, which treats cystic fibrosis in adults and is the first new drug in 15 years to treat the condition. Pharmaxis will be able to supply their drug to Europe's 27 countries.

Kerry Stokes, the executive chairman of Seven Network (SEV) has launched the mission to hunt new independent directors just before the meeting with the Australian Shareholders Association (ASA) regarding the $3 billion worth of merger. Peter Ritchie, the lead independent director of Seven along with Peter Gammell, the executive director of the company are expected to hold a meeting with the Association today to talk about various points of the proposed deal.

ChemGenex Pharmaceuticals (CXS), an Australia based biotechnology research and development company that develops leukemia drugs stated that the latest difficulties faced by the company with the Food and Drug Administration (FDA) is only another hurdle in the drug approval process, although the traders provided the ChemGenex stocks with a right old shellacking.