Retailer Coles Myer has rejected a revised leveraged buyout proposal from a consortium of buyers led by Kohlberg Kravis Roberts & Co. (KKR).

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

Find out more


The proposal, which valued the company at A$15.25 (US$11.54) per share, was received by Coles last night but was considered to “substantially” undervalue by the chain.


Coles Myer chairman Rick Allert said: “The conditionality of the proposal gives no certainty that the price proposed would be delivered to shareholders.


“The board believes that shareholder interests will be better served by the company pursuing its growth strategy. We remain confident that this will create significantly increased value for shareholders.”


The company added that it was on track for implementing its strategic initiatives – designed to reduced costs and grow earnings.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

The consortium was made up of KKR, the Carlyle Group, CVC Asia Pacific, Texas Pacific Group and Blackstone Group.


Last month (6 September), Coles announced it had rejected a A$14.50 per share offer, from a consortium of buyers from Bain Capital, Blackstone, Carlyle, CVC, KKR, Macquarie Bank, Merrill Lynch, Texas Pacific/Newbridge and PEP.

Just Food Excellence Awards - The Benefits of Entering

Gain the recognition you deserve! The Just Food Excellence Awards celebrate innovation, leadership, and impact. By entering, you showcase your achievements, elevate your industry profile, and position yourself among top leaders driving food industry advancements. Don’t miss your chance to stand out—submit your entry today!

Nominate Now