Lew takes stake in David Jones

Company with Premier Investments boss on the board takes 0.65% interest.

A company that has Premier Investments chief executive Solomon Lew as a director has taken a 0.65% interest in David Jones (DJS), following the department store's April announcement of a $2.15bn takeover bid from South African giant Woolworths.

Mr Lew is on the board of S L Nominees Pty Ltd, the company that now has an interest in 3.5 million David Jones shares. 

David Jones said it will publish details of any changes to this interest.

Mr Lew is a minor shareholder in Country Road, which is majority-owned by Woolworths, and his move into David Jones could create a disruption for Woolworths' planned takeover.

David Jones shares reached $4 in April, the same price as the takeover offer.

This morning, David Jones shares traded above the offer price at $4.05, their highest point since July 2011. At 11.23am (AEST) David Jones shares were 0.75% higher than yesterday's close at $4.01, against a benchmark index fall of 0.19%.