Woolworths in bid to buy out Lew's stake in Country Road

South Africa's Woolworths lobs $17 per share offer in bid to win support for its $2.2bn David Jones deal.

South Africa's Woolworths has lobbed an all-cash takeover bid for clothing retailer Country Road at a price of $17 per share, a 21.4% premium to the group's closing share price yesterday.

Woolworths said it already had a relevant interest in 87.88% of Country Road shares and that its offer had a total value of around $213 million.

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