Business Services Industry
Wesfarmers chief to meet Coles bosses.
Australasian Business Intelligence, July, 2007
Byline: Simon Evans
Jul 16, 2007 (The Australian Financial Review - ABIX via COMTEX) -- Wesfarmers and Coles Group officials will meet on 19 and 20 July 2007, to determine who will run Coles' retail chains if the merger succeeds. The Coles board has recommended the $A21 billion takeover offer and is providing Wefarmers with access to Coles management. Wesfarmers MD, Richard Goyder, along with Wesfarmers Bunnings MD, John Gillam, have indicated that they would seek to run the Coles retail operations in three separate units. At least 75 per cent of Coles shareholders need to vote in favour of the proposal at an upcoming meeting if the takeover is to proceed.
Publication Date: 16 July 2007
WESFARMERS LIMITED - ASX WES
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