Discovered another article that discusses the various avenues that WOW has explored in recent times in order to generate some growth. Includes a few from WES's stable and JB HiFi which, as you mention Shane, was bandied about a while back. Perhaps the delay was due to Mitre 10 being the preferred option but was just too hard and ended up wasting a lot of time?
Article mentions possible counter bid by WES for Danks, but not sure that a) they'd be interested or b) the ACCC would be too keen.
http://www.intelligentinvestor.com.au/articles/comparative-review/Wesfarmers-to-win-hardware-battle.cfm?articleID=910093
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