What to do with Wesfarmers' war chest?

Following the sale of its insurance broking arm, Wesfarmers now faces the rather pleasant dilemma of either returning capital to shareholders or looking for another group re-shaping acquisition.

With the $1 billion sale of its insurance broking and premium funding businesses Wesfarmers will exit the insurance sector with $3 billion of cash and a $1 billion profit. The key question for shareholders is what it does next.

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