METCASH has thrown down the gauntlet to the Australian Competition and Consumer Commission by giving notice that it intends to complete the $215 million acquisition of the Franklins supermarket chain on Friday.

The regulator responded yesterday by arranging an urgent court hearing.

Justice Peter Jacobson will hear the matter on Thursday, when he could prevent the takeover from proceeding until an appeal filed by the ACCC in the full Federal Court last week is heard.