The anticipated sweetener was thrown into the Coles pot by Wesfarmers this morning, reports Rob Lake.
Wesfarmers
Minimum bid rule ain’t working for Coles shareholders
One of the principles underlying Australian takeover laws is that all shareholders of a target company are to be treated equally. To achieve this, section 621 of the Corporations Act provides that the price offered by a bidder must “equal or exceed” the price paid by the bidder in the past four months, Adam Schwab writes.
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 […]
Coles should have sold when they had the chance
Having rejected the KKR $15.50 bid for Coles last October, Chairman Rick Allert finds himself with a huge problem. Retail commentator Rob Lake reports.
Wesfarmers is still Coles’ best option
There’s been speculation for weeks that the Wesfarmers-Coles deal might topple. I think the opposite is true, writes retails commentator Rob Lake.
Can Wesfarmers do a Myer with Coles?
Is the latest word on Coles and Wesfarmers a message from Cassandra (whose prophesy was correct, but was not believed) or Jonah (who got one right, was believed, then got one wrong)? asks retail commentator Rob Lake.
Woolies rubs salt in Coles’ wound (for now)
To Coles, Woolworths has become taillights vanishing in the distance. However, retailing, and grocery retailing in particular is a highly labile sector. Not too many years ago, the positions of Coles and Woolworths were reversed, notes retail commentator Rob Lake.
After Wesfarmers: The future at Coles
A decade ago, when Bunnings set about building their east coast hardware empire, they went back to first principles and therein lives a glimpse of how they might tackle Coles, writes retail commentator Rob Lake.
Tips and rumours
In the light of the news re Fairfax and Southern Cross, one wonders whether John Laws had wind of this development and whether it played any part in his apparently hasty decision to retire. There is much to fear from Brian McCarthy who is rumoured to run the radio group following its acquisition by Fairfax — he […]
What Wesfamers did next
Right now it’s the “calm before the storm”, a Bunnings insider told Crikey today.
Market savages Coles and Wesfarmers
All the chest-beating about the Coles board extracting a great price from Wesfarmers has been laid to waste by investors this morning when shares in both companies tumbled in a stronger market, writes Stephen Mayne.
When Wesfarmers met Coles: The job ahead
While fixing Coles is a mammoth task, it is difficult to imagine a company more able to meet that challenge successfully than Wesfarmers, writes retail commentator Rob Lake.
Wesfarmers looking strong as Coles’ options run out
As expected, Coles and Wesfarmers went into trading halt before the market opened this morning, pending an announcement, writes retail commentator 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.
