A record price for Woolies shares today with the market sending them up to a high of $32.50 after the ACCC blocked the giant from buying Kmart and Officeworks from Coles, if those chains came on the market, writes Glenn Dyer.
Kmart
Coles quietly slips away
The penultimate chapter in the sad recent history of Coles was played out this morning. Coles announced their last financial results as an independent retailer. A quiet little affair was arranged for the event. CEO John Fletcher, COO Mick McMahon and Chair Rick Allert delivered their final results to a phone hook up and Internet broadcast, electing not to eyeball pesky investors, writes Rob Lake.
Tips and rumours
A PEP talk? As well as TPG still circling Coles, Pacific Equity Partners have had several meetings with Wesfarmers regarding Kmart. The word is that PEP are trying to merge the Warehouse Group from NZ with Kmart.
Defence contractors and racial discrimination exemptions. A friend of mine who had been working at Tidbinbilla lost his job […]
Expect a less blokey Coles under Wesfarmers
Women can expect a stronger voice at the new Coles. And other things, writes retail commentator Rob Lake.
Just you wait: invigorated Coles to turn up the heat
The easy ride for some retailers is about to end. Every company operating in a sector in which Coles is a player will soon feel the heat of an invigorated Coles, writes Rob Lake.
Is John Wylie dreaming up Coles dummy bids?
The Coles board and its adviser, John Wylie, remain locked in negotiations with Wesfarmers today over the fine detail of an agreed $20 billion-plus takeover bid.
