The new mega-chemist and wholesale supplier will be to retail pharmacies what Bunnings is to hardware,what JB Hi-Fi is to electronics or what Dan Murphys is to booze.
If share prices of Premier Investments and Myer are any indications,this deal is a hit.
Myer will acquire a suite of Premier Investments’ clothing brands in Australia and New Zealand,giving the businessman a seat on its board.
The biggest change to the nation’s merger laws will target the supermarket sector with any takeover plan likely to face the ire of the competition regulator.
It’s the great number of our industries dominated by just a few firms that makes us especially susceptible to the inflation surge we’re struggling to get back under control.
Anglo American’s refusal to engage with BHP forced the world’s largest miner to abandon its $74 billion mega-deal.
BHP has abandoned its six-week pursuit of rival Anglo American after a plea to extend takeover talks was turned down.
The Anglo American board has finally agreed to let BHP put forward the case for its now $74 billion takeover plan after the Australian mining giant upped its offer for the second time.
The resources giant has until 2am on Thursday morning,Australian time,to increase its bid for rival miner Anglo American,issue a formal binding offer,or walk away.
BHP chief Mike Henry said he was disappointed after a $64 billion sweetened bid was immediately rejected by the London-headquartered miner.
BHP,the world’s largest miner,has approached London-listed Anglo American with an offer that could turn into this year’s biggest deal.