David Jones takeover: Federal Court decision on Woolworths bid pending

David Jones takeover: Federal Court decision on Woolworths bid pending

By Alicia Barry

David Jones‘s lawyers put forward the case that, given Woolworths was unable to increase its offer price from $4 a share, any benefit Solomon Lew was to obtain from his sale of Country Road would not affect them as they did not hold shares in Country Road.

The corporate watchdog ASIC is not seeking to oppose the $2. 2 billion scheme of arrangement given the overwhelming support from David Jones shareholders on Monday.

Read more here: ABC

    

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