$1.7B PE Bid For Aussie Retail Co. Draws Regulator's Scrutiny
By Megan Stride
Law360, Chicago (July 3, 2012, 1:33 PM EDT) -- Australia's financial services regulator said Tuesday that it is investigating an AU$1.65 billion (US$1.69 billion) takeover offer for David Jones Ltd. by a little-known U.K. private equity firm that initially boosted the department store operator's stock price and then sent it falling after the firm withdrew the proposal Monday.
The Australian Securities and Investments Commission said it has been monitoring developments on the takeover bid closely since Sydney-based David Jones made the offer public on Friday. In that announcement, the retail chain said that it had...