In Australia, there is speculation that Wesfarmer’s proposed acquisition of Coles Group – the nation’s second largest retailer – could be in jeopardy as Coles seems to lose value in the marketplace almost daily. Investors reportedly would like to shave as much as 10 percent from the $17.7 billion (US) purchase price, though Wesfarmers management has said only that while the deal could be tweaked, there will be no major changes in its structure.
The Coles board of directors is scheduled to vote on the proposed deal later this month.
The Coles board of directors is scheduled to vote on the proposed deal later this month.
- KC's View:
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Take the money and run, guys.
Can’t see any reason from this vantage point why the Coles folks would be against the merger. The question is whether Wesfarmers is going to get its money’s worth.
