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.
Australian billionaire Solomon Lew has spent 17 years blocking Woolworths Holdings Ltd. from taking full control of a local fashion chain. His intransigence is set to earn him a A$209 million ($197 million) payout.
Woolworths Holdings Ltd. is paying a record valuation for Australian clothing chain Country Road Ltd. just to get its hands on the real prize: department-store operator David Jones Ltd.
"There's a gigantic gulf between the tech industry as a whole and the medical regulatory infrastructure."
- David Jones on Sep 05, 2013
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