Metcash has been given the green light to go ahead with the acquisition of the Franklins supermarket business.

This comes after the Federal Court decided not to grant the Australian Competition and Consumer Commission (ACCC) an interim injunction to restrain the process until a full appeal is heard and determined.

The court has expedited the appeal hearing for 24 October 2011, to be heard over three days.

ACCC chairman Rod Sims said the ACCC will remain committed to the appeal process.

"To that end the ACCC welcomes the court's order expediting the appeal hearing. A speedy resolution will be in the best interests of all the parties," he said.

The ACCC filed an appeal on Friday 9 September 2011 against the Federal Court's judgment dismissing the ACCC's application to prevent Metcash from acquiring the Franklins supermarket business.

Metcash had earlier given the ACCC an undertaking that it would not proceed with the acquisition of Franklins without giving five business days' notice, which was received on Sunday 11 September.  The ACCC therefore applied to the Federal Court for an interim injunction, which the court has declined to grant.