By  on July 16, 2014

SYDNEY — Australia's Federal Court has cleared Woolworths Holdings Ltd's $2 billion takeover of department store chain David Jones.

Justice Kathleen Farrell announced her decision Thursday. The Australian Securities and Investments Commission had raised concerns about the propriety of a separate offer Woolworths had made to David Jones shareholder Solomon Lew involving Lew's stake in retailer and Woolworth's subsidiary Country Road Group.

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