Is this really the end of Masters?

About 25 miles north of Charlotte North Carolina lies the city of Mooresville, known to NASCAR enthusiasts as ‘Race City USA’ because many of the competition’s racing teams call it home.But Mooresville has another famous resident, American home improvement company Lowe’s (NYSE:LOW). Lowe’s is the minority partner in Masters, the struggling home improvement chain majority owned by Woolworths (ASX:WOW).In 2009, Lowe’s was given a put option that allowed it to sell its 33.3% stake in Masters to Woolworths at fair value. That put option can now be exercised. In its 2015 annual report, Woolworths carried the value of this option...

About 25 miles north of Charlotte North Carolina lies the city of Mooresville, known to NASCAR enthusiasts as ‘Race City USA’ because many of the competition’s racing teams call it home.

But Mooresville has another famous resident, American home improvement company Lowe’s (NYSE:LOW). Lowe’s is the minority partner in Masters, the struggling home improvement chain majority owned by Woolworths (ASX:WOW).

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