InvestSMART

David Jones to wait on Myer talks

David Jones unlikely to engage on merger for another fortnight: report.
By · 6 Mar 2014
By ·
6 Mar 2014
comments Comments

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

Google News
Follow us on Google News
Go to Google News, then click "Follow" button to add us.
Share this article and show your support
Free Membership
Free Membership
Staff Reporter
Staff Reporter
Keep on reading more articles from Staff Reporter. See more articles
Join the conversation
Join the conversation...
There are comments posted so far. Join the conversation, please login or Sign up.