Investors discount chance of rival DJs bid

Trading in David Jones shares shows that investors have little expectation of a higher bid to trump the rich offer from Woolworths.

Shares in David Jones remained below $4 in opening trade today, suggesting the market has little expectation of a rival bid emerging to trump a $2.15 billion all-cash takeover bid from South African retailer Woolworths Holdings.

DJs is recommending shareholders accept the offer from Woolworths -- which is unrelated to Australian retailer Woolworths Ltd -- which will be executed by a scheme of arrangement on which shareholders will vote at a meeting to be held in June.

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