There's the word.......

There's the word....

http://www.copyright link/street-talk/solomon-lew-linked-to-large-myer-trade-20170327-gv7epr

Solomon Lew linked to large Myer trade


The alarm bells will be ringing inside Myer, after a line of 81.7 million shares, or circa 10 per cent of Myer's register, changed hands in late Monday trade with sources pointing to Solomon Lew as the potential buyer.

The trade was done at $1.15 per share on Monday afternoon, which was a slight premium to the market price.  

Market sources told Street Talk the buyer could be Solomon Lew, purchasing stock via his favourite broker and clearing through Pershing. [Remember it was via Pershing that Lew took a 9.9 per cent blocking stake in David Jones in 2014].

Should Lew secure the 10 per cent foothold, investors and analysts would expect him to make a larger move.

One option may be to mop up the rest of the company via a one-for-nine scrip bid using Lew's Premier Investments, one source said.


The trade has caused a stir on equities desks across the market. Myer shares have jumped 11 per cent to $1.18.

The trade comes soon after's half-year result, where the company handed down a a better-than-expected 5.3 per cent increase in January-half net profit to $62.8 million.