(Reuters) - Shares in Wesfarmers rose 2 percent on increasing chances of grabbing Coles with its A$19.7 billion bid. Coles shares were down just 0.2 percent at A$16.25, below the A$16.47 per share Wesfarmers' offer.
"It looks increasingly like a fire sale rather than a competitive bidding process," said ABN AMRO Asset Management analyst Matthew Hoult. "Suddenly Wesfarmers holds all the cards."
Read more at Reuters.com Mergers News
"It looks increasingly like a fire sale rather than a competitive bidding process," said ABN AMRO Asset Management analyst Matthew Hoult. "Suddenly Wesfarmers holds all the cards."
Read more at Reuters.com Mergers News
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