The Myer CEO Said One Of The Most Confusing Things You'll Ever Hear In Business

Getty/ Lisa Maree Williams

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.

Who knows.

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.

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