Original article by Sue Mitchell
The Australian Financial Review – Page: 1-Dec : 3-Jul-14

The Australian Securities & Investments Commission has acted in the $A2.2 billion takeover of David Jones by South African retailer Woolworths. The regulator is concerned that Solomon Lew will receive a collateral benefit from Woolworths’ offer for the remaining shares in Country Road. It believes that full ownership of the two businesses will increase synergies and may affect the value of the offer. It wants David Jones and Woolworths to provide more information before the shareholders’ meeting on 14 July 2014. However, a court ruled that David Jones does not need to provide an independent valuation of the collateral benefits

CORPORATES
DAVID JONES LIMITED – ASX DJS, COUNTRY ROAD LIMITED – ASX CTY, WOOLWORTHS HOLDINGS LIMITED, GRANT SAMUEL AND ASSOCIATES PTY LTD, FEDERAL COURT OF AUSTRALIA, LONERGAN EDWARDS AND ASSOCIATES LIMITED, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION