SYDNEY — Australian retailer David Jones said Wednesday its board recommends a 4 Australian dollar, or $3.73, per share takeover offer from South African retail group Woolworths. That price values David Jones at 2.15 billion Australian dollars, or about $2 billion.
“David Jones is an iconic brand with a long and justifiably proud history. This is a compelling proposal which represents a significant premium to not only our intrinsic value but also to broker valuations and to recent share prices. It represents a substantial earnings multiple,” said David Jones chairman Gordon Cairns.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)