Interesting stock, page-117

I am enjoying the public joust between premier and myer. And would think that Premier's sentiment would capture most of the (IPO investors) well - who have endured alot in past decade. Activist investors sometimes have a bad name in Australia, but they have proven that they can be effective (Sandon Capital the obvious example).

My memory is that SL was not backed up previous institutional investors (might have been investors mutual in the past?) but they have since sold old - so will be interesting to see how a vote pans out. I would suspect before going to the effort of an EGM, and hiring Arnold Block Leiber (would hate to think what they cost?!) that PMV have discussed with other key shareholders and drummed up some level of support.

To Sensis comment - I agree that it is simplist to state that department stores will be obsolete in future. Yes they have been in decline.
But 10 years ago, it was also floated that JB hifi would be obsolete from online retailers.... look how that played out.