It had to happen, an overcapitalised blaoted giant with nowhere to go. The company has been in play but the suitor is not showing their hand yet for fear of breaches of the act if the do (Section 674-678).
All I can say is that all of the QC's in Melbourne, Perth and Sydney are on retainers and thats not for the Melbourne cup. It is a Corporations Law matter related to the target.
The troika behind the deal includes a large Australian listed company (can't name) and two British interets. The Australian is the stalking horse can't say more. it will be sudden.
westfarmers in play
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