Advertisements

Independent Expert Approves Myer’s Acquisition of Premier’s Apparel Brands

by Demos

Myer’s efforts to acquire Premier Investments’ Apparel Brands received a significant boost after an independent expert deemed the proposed deal “fair and reasonable” for the retail group’s shareholders.

In early ASX trading, Myer’s shares dropped by 2.4%, reaching 82 cents, while Premier’s shares rose by 1.3%, climbing to $27.76.

Advertisements

Both Myer and Premier have seen their shares fall since Monday, following the announcement of declines in their first-half sales amid tough trading conditions.

Advertisements

Despite this, the independent expert reviewed both companies’ trading updates and maintained that the proposed acquisition remains fair and reasonable, provided no superior proposal emerges.

Both Myer and Premier confirmed that their independent directors continue to unanimously support the deal. They are recommending that shareholders vote in favor of the acquisition at the extraordinary general meetings scheduled for next week.

Premier’s shareholders will also vote on Myer’s proposed acquisition of the Apparel Brands business, which includes well-known brands such as Just Jeans, Jay Jays, Portmans, Dotti, and Jacqui E.

Related Topics

You may also like

Discover the latest trends and timeless styles at Daily Fashion Clothing. Shop our curated collection of high-quality apparel and accessories for men and women. Enjoy seamless shopping, exclusive deals, and fashion inspiration to elevate your everyday wardrobe.

TAGS

Copyright © 2023 dailyfashionclothing.com