Woolies shareholders approve proposed David Jones acquisition

Woolworths (WHL) shareholders have approved the proposed acquisition of David Jones‚ the Australian department store retailer.

17 Jun 2014

Woolies shareholders approve proposed David Jones acquisition

"This is an important step on the road to completing the acquisition of David Jones. Today our shareholders have given a clear vote of confidence for our strategy to grow Woolworths into a leading southern hemisphere retailer‚" said Woolworths CEO Ian Moir on Tuesday, 17 June 2014.

The David Jones scheme meeting is scheduled to take place on 30 June 2014 and the proposed transaction is expected to be completed on 17 July 2014.

The price tag is expected to be about R23bn.

Source: I-Net Bridge

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