Myer chief Bernie Brookes has had a bet each way with the much-discussed but no-action department store dream merger with David Jones.
In The Australian, the Myer CEO says a merger with David Jones is “dead and buried” but in the next breath says the offer is still there.
“We made what we thought was a compelling offer for DJs and they responded that they have no interest, so to us it’s dead and buried,” Mr Brookes said.
Then Brookes followed it up with: “Potentially there could be other iterations, but at this stage we don’t plan to go back with anything other than the original offer — it is still there, it is still on the table, and it is up to them . . . who knows, in three weeks or three months a lot could happen.“
Myer’s offer of $1.06 of its own shares for every share in DJs was knocked back on the basis that it offered no premium to DJs shareholders.
The full story’s here.