David Jones Said It Would Consider A New Merger Offer From Myer

David Jones Brand Ambassador Megan Gale poses outside the new David Jones Malvern Central store at the David Jones Malvern Central launch on September 12, 2013 in Melbourne, Australia. (Photo by Graham Denholm/Getty Images)

If Myer comes up with a better deal than its original $3 billion all-scrip merger offer, David Jones chairman Peter Mason said he’d consider it.

“The view of the board is if there is something put on the table ­worthy of consideration, they would,” a spokesman for Mason said according to Fairfax Media.

“If it adds value to our shareholders we’d certainly reconsider it.

But if Myer is interested in getting it back on the table, they haven’t indicated that, and they didn’t try to engage after the formal rejection.”

The AFR says Mason will meet with key shareholders this week, some of whom are upset the proposal was knocked back.

Myer approached David Jones for a “merger of equals” in October last year. Mason said no because he thought the $3 billion undervalued DJs.

There’s more here.

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