This appeared 23 hours ago http://www.kamcity.com/namnews/asp/newsarticle.asp?newsid=30583
Supports rumour of KKR bid in early New Year..I'm still holding and waiting for at least $16.50. If there is a private equity bid in US for Home Depot (2nd largest US retailer) this will really fire up the retail sector worldwide as markets recognise takeover potential of other listed retail companies.
"AUSTRALIA: KKR Still Analysing Coles’ Figures US private equity firm Kohlberg Kravis Roberts is receiving regular updates on the results of Coles Group Ltd., ahead of a potential renewed bid for the Australia retailer in 2007, according to a report in the Australian Financial Review.
Without citing sources, the paper said KKR remains keenly interested in Coles, and is understood to be considering approaching its board again, possibly early next year. KKR's A$18.2bn takeover proposal was quickly rejected by Coles in October. However, last month’s dismissal of senior supermarkets executive Peter Scott, and poor first quarter sales have lowered shareholder confidence in the company's ability to meet its ambitious forecasts."
Ajax
CML Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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