A 4SquareMedia Website

> Wearable Technology
> Appliances
> Automation
> Automotive
> Buyers Guide
> CEDIA 2010
> Comment
> Content & Downloads
> Digital Photography
> Gaming
> Green Energy
> HD
> Home Cinema
> Home Office
Broadband & Web Hosting
Desktop PCs
Microsoft Windows
Monitors And Screens
Notebooks & Tablets
Printers & Multi-Function
Security & Support
> How Stuff Works
> Installation
> Portable Players
> Media Centres
> Phones
> Real Sound
> Reviews
> Smart Awards 2013
> Smart Ideas
> Trio Awards 08
> TVs & Large Display
> Wireless & Networking
> Featured Reviews
> Advertising
> Competitions
> Contact
> Disclaimer
> Signup
> Terms & Conditions
> Subscribe to Newsletter
> Subscribe to Magazine

Top 10 Viewed Articles
  1. Who Has The Best LCD TV: Sony, Toshiba Or Samsung?
  2. FIRST LCD TV REVIEW: LG Scarlet 60 Vs Samsung Series 6
  3. Sony PS4 Not Far Away
  4. The Humble PC Gets A Whopping Makeover
  5. Sony Bravia LCD TVs Vs Samsung LED HD TVs Which is Best?
  6. Toshiba Working With Microsoft On New Entertainment Xbox
  7. Blu-ray Xbox 360 Planned By Microsoft
  8. Massive Failure Rate For Xbox 360 Exposed
  9. Free Sony PS3 Con
  10. How To Build Your Own Digital Media Server: Part I
Top 10 Viewed Reviews
  1. First Review: Samsung Series 7 LED TV
  2. Movies On-The-Go With Teac DVD Boombox
  3. Who Has The Best 32-inch Screen: Panasonic, Samsung, or Sony?
  4. Who Has The Best Home Theatre Kit? Denon vs Bose
  5. Every Bit Of Defence Counts
  6. New Denon Home Theatre Makes Bose Look Like Yesterdays Technology
  7. Best Media Player On The Market
  8. At $1,499 The Aldi Medion 17-inch Notebook Is A Steal
  9. Affordable Noise Cancelling Headphones That Work
  10. B&W 600 Speaker Delivers Real Sound


Myer Desired David Jones "Union"

By Oonagh Reidy | Friday | 31/01/2014

But the high end dept store refused all advances

Myer approached rival David Jones (DJs) about a merger, it has been confirmed. 

The deal, first reported in AFR 'Street Talk' claimed Bernie Brookes department store Myer, approached high street counterpart DJ's about a "union" in a scrip deal at a ratio of 1.4 Myer share for every one DJ share. The deal was worth a reported $3 bn. 

However, David Jones the high end department store, refused the offer of a "union" made in October 28 last, it confirmed in a statement to the ASX, in response to the AFR report. 

Myer proposed a deal for DJs shareholders whereby "David Jones shares would be acquired by Myer in exchange for Myer shares at a zero premium exchange ratio that is 1.06 shares in Myer for each DJ share," DJs confirmed. 

The timing of the proposal is interesting as just one day later on October 29, two of DJ Directors, Steve Vamos and Leigh Clapham bought shares in the company just days before it announced a suprise sales rise of 2.1%.  The purchase came under scrutiny of ASIC for possible share trading, although the case was recently closed. 

Myer also wanted due diligence access and company information, as part of the proposed merger.  

DJ said it did consider the "invitation" but the Board decided "the potential transaction did not have sufficient merit." 

The deal would include "substantial" market and business risks and "involve diversion of company resources over a lengthy period with great uncertainty over the final outcome." 

DJ also said it is not currently in any talks with Myer about a merger or any other such deal. 

According to Fairfax Media, Myer chairman Paul McClintock is believed to have desired the "union" on the basis that the synergy between the two Australian high street staples would strengthen its business against international chains, and cheaper fashion etailers. 

Fashion majors like Topshop and Zara stores have all have recently entered Australia, making a big play for the image conscious Aussie consumer, and webstores like Asos and British fashion chains like River island also offer free or cheap Aussie shipping.  

Both Myer and DJ's have also felt the pinch from tepid consumer spending, although sales have lifted slightly  in recent months.  

Print this article
Email this story to a friend
Link this story:
Link this page to delicious Link this page to Digg Link this page to Furlit Link this page to News Vine Link this page to Reddit Link this page to Spurl Link this page to Yahoo My Web RSS this section

New LG 65   New LG 65" Ultra High Definition TV, Complete With Pop Down Speakers: REVIEW
LG Australia has finally rolled out their 65" Ultra High Definition TV offering in Australia and what you get is a TV that delivers a quantum leap in TV technology and surprisingly a significantly improved sound system that is delivered from pop down speakers but the big question is whether it is worth $6,999.
Product Rating 4.5

Westfield To Split   Westfield To Split
Shopping giant to separate ANZ, international operation
Product Rating 0

REVIEW:Note 3 Is The Best There Is In Phablet Smartphones   REVIEW:Note 3 Is The Best There Is In Phablet Smartphones
If you are one of those people who love technology but struggle to manage the hundreds of apps and the endless capabilities that today's smartphones are capable of delivering then the new Samsung Note 3 is not for you.
Product Rating 5

Get the latest news
Subscribe today for your daily news of consumer electronic news...
Get the latest news

reaches over 2 million consumers a year. Contact us today about special deals..

For more information ...

Apr/May 2011 issue

reviews the hot new iPhone attach device, the Zeppelin Air. And we look at what's going on in the tablet space...