Ann: Approach to Premier and Strategy Update, page-4

PMV's reaction was positive, as the proposal looks to have Solly Lew's blessing.

These half dozen lines in the PMV release are key:

"...Premier also believes that there may be meaningful opportunity for both businesses from the proposal. The proposed combination has the potential to deliver a step change in Myer’s scale and market position, deliver synergies and drive sustainable earnings growth. Premier shareholders would benefit given Premier’s existing shareholding in Myer and because Premier shareholders would become shareholders in Myer.

Next Steps The Board of Premier has determined that the proposal warrants further consideration..."

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All-in-all, innovative despite challenging times for many retailers.