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The takeover of Coles Group

New Coles owner looks to reassure investors

The long-running battle to buy Australian retailer Coles Group looked to have reached a conclusion earlier this week when the company accepted a bid from local conglomerate Wesfarmers. However, as Ben Cooper reports, the market...

AUS: Wesfarmers clinches A$22bn deal for Coles

AUS: Wesfarmers clinches A$22bn deal for Coles

The diversified conglomerate Wesfarmers has reached an agreement with the board of Australian retail group Coles for a recommended cash and share takeover offer totalling around A$22bn (US$17.7bn).

AUS: Ex-Asda boss joins Wesfarmers bid for Coles

AUS: Ex-Asda boss joins Wesfarmers bid for Coles

Wesfarmers, one of the suitors for Coles Group, today (30 April) confirmed the involvement of Archie Norman in the consortium’s A$19.7bn (US$16bn) bid to acquire Australia’s number two retailer. Norman was the executive who led Asda’s transformation in the UK during the 1990s.

AUS: Coles to consider sale

AUS: Coles to consider sale

Lowering its earnings guidance in the face of a poor performance from its supermarket division, Australia’s second largest retailer Coles has said that after several approaches the group has commenced a review process to assess the possibility of a sale of some or all of its businesses.