Our worst fears have been realised, see the Skynews report below...

Our worst fears have been realised, see the Skynews report below about CTX going to buy WOW, hopefully at a price of no greater than $20 but I fear Segal might pay about $25 for it. Why would a profitable, wonderful and beautiful company such as CTX want to go to bed with a laggard, unprofitable wretch of a company such as WOW hope it gets rid of the name too, in England, Woolworths went bust, kaput, finito and left a string of debts a mile long. Commercial property in Australia is going down so it is an odd choice for CTX.

Perhaps WOW without a CEO, without any prospects and with the most expensive set of groceries in the world on sites that r overvalued more than any other commercial property sites in the world will be short sold to $15 before any bid is launched (BTW TSCO did the same with commercial property overvaluing it and ended in an accounting scandal bigger than Enron with half of management resigning or being sacked, only their huge property across Continental Europe saved them).

When I suggested back in July/ August that CTX would get WOW, I didn't think it would happen in 2-3 months. Why would CTX want to take over WOW, why do we need to buy WOW, can't we buy Coles off WES or even MTS or get in a JV with ALDI? Who wants WOW? Hopefully management kybosh this today or CTX shares could go under $31. Who wants WOW at any price?
http://www.skynews.com.au/business/.../25/caltex--planning--woolworths-buy-out.html