Aus puts $2bn Woolies takeover vote on ice

Sydney – Australian department store operator David Jones said it will postpone a shareholder vote on a $2bn takeover bid from Woolworths Holdings [JSE:WHL] until mid-July, after Australian billionaire Solomon Lew took a 9.89% stake.

David Jones, the country’s No 2 retailer by sales, said on Thursday it has obtained court permission to postpone the originally scheduled June 30 meeting until July 14 “to allow sufficient time for the David Jones Board to assess the implications” of Lew’s investment.From Fin24.com

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