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.
