The offer DJs shareholders couldn't refuse

Resounding shareholder approval for Woolworths' bid for DJs will likely diminish the prospect of ASIC intervention in spite of concerns over collateral benefits, while Solomon Lew will walk away with a tidy profit.

The rather tortuous progress of the $2.2 billion bid by South Africa’s Woolworths for David Jones has ended with the right outcome for David Jones shareholders and a $200 million-plus cash bonanza for a very astute Solomon Lew.

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