ASIC to investigate DJs takeover offer July 3, 2012 -...

ASIC to investigate DJs takeover offer July 3, 2012 - 12:49PM

AAP

The corporate watchdog will investigate the $1.65 billion mystery takeover offer David Jones received from an obscure UK private equity firm.

The Australian Securities and Investments Commission (ASIC) released a statement on Tuesday saying it had been closely monitoring developments since the offer from EB Private Equity was made public on June 29 and its withdrawal on July 2.

David Jones shares surged when the retailer announced the offer last Friday.

However shares dropped 10 per cent on Monday when David Jones told investors that EB had withdrawn its offer, citing concerns about the massive publicity surrounding the deal.