Obscure UK PE Firm Bids $1.7B For Australian Retail Co.

Law360, New York (June 29, 2012, 6:36 PM EDT) -- Australian retail chain operator David Jones Ltd. has received a $1.67 billion takeover offer from a mystery U.K. private equity buyer named EB Private Equity, the retail company said Friday, sending its shares skyrocketing.

The firm, which operates high-end department stores in Australia, said it knew nothing about EB Private Equity and was in the process of seeking more information.

According to a David Jones statement late Friday, the UK-based private equity firm offered the company $1.67 billion for a 100 percent takeover. David Jones released...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.