Australian Dept. Store David Jones Spurns Merger Talks

Law360, New York (January 30, 2014, 2:19 PM EST) -- Australian department store chain David Jones Ltd. said Thursday it had turned down a merger proposal from its larger rival Myer Holdings Ltd. late last year and was not in any current discussions with Myer on a merger.

In a regulatory filing with the Australian Securities Exchange, David Jones said it had received an invitation from Myer in October 2013 to start discussions on a potential merger between the two department store chains. The company’s ASX filing sought to clarify what David Jones described as a...
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