SYDNEY, Aug 24 (Reuters) - Australia's top grocer Woolworths (WOW) put its shares on a trading halt on Wednesday ahead of an announcement on its home improvement joint venture.
Rival Metcash (MTS) also sought a trading halt on its shares pending an announcement regarding its participation in Woolworth's Home Timber & Hardware Group sale process.
A combined Metcash and Woolworths business could emerge as a stronger rival to Wesfarmers-owned Bunnings (WES) , the undisputed king of hardware in Australia.
Woolworths is already battling a step-up in competition in its core supermarket business brought about by new entrants such as Aldi, contributing to its first loss in 23 years in February.
Last month, it announced a restructuring including job cuts and store closures. Woolworths is also looking to sell or wind up its stake in its loss-making hardware chain Masters.
Metcash already owns DIY hardware chain Mitre10 and most of its 400 plus stores are owned by franchisees selling outdoor furniture, garden tools and laundry appliances. ($1 = 1.3144 Australian dollars)
Ann: Trading Halt-WOW.AX, page-11
Add WOW (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$33.00 |
Change
-0.060(0.18%) |
Mkt cap ! $40.31B | |||
| Open | High | Low | Value | Volume |
| $33.13 | $33.33 | $32.93 | $43.71M | 1.323M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 17904 | $32.98 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $33.02 | 207 | 1 |
View Market Depth
| Last trade - 16.10pm 14/10/2024 (20 minute delay) ? |
| WOW (ASX) Chart |