Australia’s David Jones Shareholders Back $2 Billion Bid

David Jones department store | Source: Reuters

SYDNEY, Australia — Shareholders of David Jones Ltd, Australia's No. 2 department store by sales, on Monday backed a $2 billion bid by South Africa's Woolworths Holdings Ltd, ending weeks of uncertainty over the intentions of top shareholder Solomon Lew.

…Continue Reading

South Africa’s Woolworths Set to Buy Australia’s David Jones for $2 Billion

David Jones | Source: Reuters

SYDNEY, Australia — South African retailer Woolworths Holdings Ltd is set to buy Australia's second-largest department store David Jones for $2 billion, trumping an offer from Australian rival Myer Holdings Ltd with a hefty premium.

…Continue Reading

Australia’s Billabong Faces Possible Class Action Lawsuit

Billabong's 'Made for Living' campaign | Source: Billabong

SYDNEY, Australia — Law firm Slater & Gordon Ltd said on Thursday it was preparing a class action lawsuit against Australian surfwear company Billabong International Ltd over alleged misleading conduct in information disclosure.

…Continue Reading

David Jones Rises as Rejected Myer Merger Proposal Revealed

David Jones Store | Source:

SYDNEY, Australia — David Jones Ltd., Australia’s second-largest listed department store company, rose the most in two months after it said it received a merger proposal in October from larger rival Myer Holdings Ltd. that it rejected.

…Continue Reading