Australian supermarket group Woolworths has increased its offer for Australian Leisure & Hospitality (ALH) to A$1.33bn (US$0.99bn) as it attempts to stop rival Coles Myer acquiring the Australian pub group.
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Woolworths’ offer of A$3.76 per share, one cent more than Coles Myer’s latest offer, is the third time the retailer has increased its takeover bid, reported Dow Jones News, adding that Coles Myer has said it is considering its options.
ALH operates 133 pubs, 52 of which are in Queensland, where it has the largest share of the state’s $4bn liquor industry.
