Zimbabwe’s deteriorating economy and a stock market that’s fallen more than any other in Africa this year are doing nothing to scare off one of South Africa’s biggest money managers.
Solomon Lew, an Australian billionaire investor, bought 9.9 percent of David Jones Ltd., threatening a $2 billion bid by South Africa’s Woolworths Holdings Ltd.
Roc Oil Co., the Australian explorer planning to combine with Horizon Oil Ltd. to create an A$800 million ($749 million) company, received a takeover bid from an unidentified suitor.
David Jones Ltd.’s refusal to merge with its closest competitor, followed by a board shakeup, has only increased speculation more bids will come for Australia’s oldest department store.
A lawyer for Glenn Agliotti , charged with organizing the killing of mining magnate Brett Kebble and seeking to have four other people murdered, sought to pin the blame for the shooting of an Allan Gray Ltd. fund manager on his security manager.