Business Services Industry
Nationals rap Coles bid from Woolies.
Australasian Business Intelligence, April, 2007
Byline: Blair Speedy
Apr 15, 2007 (The Australian - ABIX via COMTEX) -- There is speculation Australian retailer Woolworths may become involved in a takeover of major rival Coles Group. The former could join a consortium headed by US private equity firm Kohlberg Kravis Roberts, with a view to acquire only certain assets in the transaction. However, any such move is strongly opposed by National Party senator Ron Boswell, who notes that it would be a clear violation of section 50 of the Trade Practices Act. Logistics group Toll Holdings has shown the way for Woolworths to participate, by negotiating with the regulatory authorities a spin-off of its infrastructure business after the takeover of competitor Patrick Corporation.
Publication Date: 14 April...
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