DataRoom AM: DJs for Myer?

A Myer-David Jones tie-up is mulled, while Deals Direct’s reverse takeover goes broadly to plan.

Australia’s retail sector has been the subject of a major makeover in recent years, but investment banks are hoping there is a much bigger shake-up to come. Bankers are reportedly pushing for Myer to launch an all-scrip deal for rival department store David Jones, but surely they are clutching at straws?

Elsewhere, the auction of United Petroleum nears a conclusion, Deals Direct’s fortunes fluctuate on its first day on the ASX and the Dexus Property Group-led takeover of Commonwealth Property Office Fund edges towards an end.

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