Business Services Industry
Mac tests sweetener for Coles.
Australasian Business Intelligence, May, 2007
Byline: Blair Speedy
May 01, 2007 (The Australian - ABIX via COMTEX) -- As part of a consortium bidding for Australian retailer Coles Group, Macquarie Bank is assessing interest in an increased takeover offer. Institutional investors were approached by Macquarie regarding interest in a five per cent increase in partner Wesfarmers' current $A20bn bid. Coles is seeking to prevent Wesfarmers, which already has a 12.8 per cent stake in the group, from acquiring more shares prior to recommendation of its takeover offer. Coles share rose $A0.02 to close at $A17.27 on 1 May 2007.
Publication Date: 2 May 2007
MACQUARIE BANK LIMITED - ASX MBL
COLES GROUP LIMITED - ASX CGJ
WESFARMERS LIMITED - ASX WES
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