By  on July 2, 2012

SYDNEY — Australian department store group David Jones Ltd. said Monday that British and Luxembourg-based investment fund EB Private Equity has withdrawn its 1.65 billion Australian dollar, or $1.69 billion, takeover bid for the retailer.

“The company has been informed via letter this afternoon that EBPE has decided to withdraw its proposal,” David Jones said. “The EBPE letter states that recent publicity around its proposal has made it difficult to proceed.”

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