David Jones Shares Trading Below Bid Price -- Market Talk
18 Juni 2014 - 3:35AM
Dow Jones News
0104 GMT [Dow Jones]--David Jones (DJS.AU) shares are trading
under the cloud of uncertainty stirred up by businessman Solomon
Lew, whose company confirms it has amassed a 9.89% stake in the
department store chain. David Jones shares are 0.3% lower at
A$3.87, a discount to the A$4/share South Africa's Woolworths
(WHL.JO) has agreed to pay for the company. Deutsche Bank has built
up a 6.69% stake, a chunk of which is held for "unknown" parties,
according to a recent stock exchange filing. The Woolworths offer
cleared a hurdle this week when its shareholders approved the
A$2.15 billion takeover. David Jones shareholders are set to vote
on the deal June 30. (robb.stewart@wsj.com; Twitter:
@RobbMStewart)
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