What could be on Wesfarmers' acquisition wishlist, asks...

What could be on Wesfarmers' acquisition wishlist, asks Macquarie from Today's afr

Wesfarmers' mountain of cash generated by its partial Coles sell-down is giving analysts food for thought.Wesfarmers chief executive Rob Scott:. Janie BarrettNone moreso than the boffins at Macquarie, who have put together a list of what could be on Wesfarmers' acquisition hit-list now it's got another $1.1 billion in the bank
And the list mightn't be just wishful thinking. Chief executive Rob Scott told The Australian Financial Review this week that Wesfarmers could look to make acquisitions with the Coles money.

Macquarie highlighted 38 companies as potential candidates including the likes of Adelaide Brighton, Mineral Resources, Viva Energy, AP Eagers, Blackmores, JB Hi-Fi and Inghams Group.All of the 38 companies have seen their share price fall more than 30 per cent from three-year highs, had a history of profitability over the decade, had an enterprise value below $5 billion and a structural return on equity above 12 per cent.

Macquarie also highlighted a further 12 companies that didn't fit the criteria for the top-down list but were "suitable strategic fits".

This list comprised of Ardent Leisure, Boral, Brambles, Domain Holdings, Fletcher Building, Incitec Pivot, Kathmandu, Lynas Corporation, Orica, Qantas Airways, Star Entertainment and Super Retail Group.