FIRB approves Woolworths's DJs bid

Foreign Investment Review Board approves $2.15bn takeover bid from South Africa's Woolworths.

The Foreign Investment Review Board (FIRB) has approved a $2.15 billion takeover bid for David Jones (DJS) by South Africa's Woolworths Holdings, the Australian retailer says.

David Jones said the federal government raised no objections to the takeover bid in terms of its foreign investment policy.

As a result, one of the many conditions required to be satisfied for the bid to proceed has now been met.

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