AUS: Woolworths "in talks" on Coles due diligence
Local reports said today (20 April) that Woolworths is looking to start due diligence on two Coles' businesses - stationers Officeworks and discount chain Target.
A source close to the situation told Reuters that talks are ongoing but that Australia's competition authorities would allow Woolworths to look at any Coles data outside its core supermarket and liquor operations.
Woolworths is understood to be considering a joint bid with private equity groups. Officials at the retailer could not be reached as just-food went to press.
Two consortiums have officially registered bids for Coles. A consortium led by private equity group KKR plans to at least match a rival offer from a group headed by conglomerate Wesfarmers.
The Wesfarmers-group has tabled an offer for Coles worth A$16.57 (US$13.78) a share or around A$19.7bn.
The UK retail executive who led the transformation of the Asda grocery chain will have a key advisory role in the proposed Wesfarmers acquisition of Coles....
Australian retail group Woolworths has opened what it describes as "Australia's first green supermarket" at Rouse Hill in Sydney....
Flagging supermarket sales and costs linked to the company's sale has weighed on full-year earnings at Australian retail giant Coles Group....
Australian retailer Coles Group, the subject of a takeover offer by diversified conglomerate Wesfarmers, has released details of a report from financial experts Grant Samuel & Associates, which backs ...
The board of Australian retailer Coles Group has accepted an enhanced A$18.2bn ($15bn) takeover bid from diversified conglomerate Wesfarmers....
Australia's competition watchdog is to allow the planned A$18.1bn (US$14.6bn) takeover of retailer Coles Group....
Wesfarmers today (16 August) outlined its plans for Australian supermarket group Coles, which it expects to finally buy in November....
Wesfarmers has enhanced its offer for the Australian retail group Coles by providing shareholders with a "mix and match" proposal, which gives them a choice to vary the proportion of cash they receive...
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