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.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"