The board of David Jones (DJS) is unlikely to begin talks with Myer (MYR) over a possible $3 billion merger until after both retailers release earnings results in the next fortnight, Fairfax Media reports.
The go-slow tactic by David Jones is believed to be linked to confidence its results will outshine that of its rival and place it in a better position at the negotiating table.
''There's no rush -- what they've put forward isn't that compelling,'' an unnamed source told the AFR.
The paper added that skepticism around the deal was growing among analysts, with most unconvinced Myer will be in a position to offer the kind of premium David Jones is seeking
