Claims service provider Stream Group is preparing an offer for shareholders of loss adjuster Cerno, as it pushes forward with merger plans.

Stream already owns 39% of Cerno and they share IT and support systems, but it aims to bring the businesses together as one company.

Stream Chairman Christian Bernecker says meetings will be held with Cerno shareholders over the next four weeks to discuss converting their stakes into Stream Group shares.

“A merger will deliver a more streamlined corporate structure for the group, and allow us to better utilise the unique strengths Cerno and Stream bring,” he said.

“We hope to have a deal agreed by the end of October and finalised in November.”

Stream GM Paul Lynch says the companies’ brands will be refreshed to recognise the “significant realignment”.