Wesfarmers CEO resists M&A pressure

Original article by Sue Mitchell
The Australian Financial Review – Page: 15 & 22 : 27-Apr-18

Wesfarmers CEO Rob Scott says he does not intend to make acquisitions just for the sake of it once the conglomerate has completed its demerger of Coles. Speaking on the release of Wesfarmers’ retail sales figures for the March quarter, he rejected rumours that it is interested in Fletcher Building. Outgoing Coles managing director John Durkan rejected claims that it had been increasing prices in an attempt to boost margins, noting that it cut the price of 500 products during the March quarter.

CORPORATES
WESFARMERS LIMITED – ASX WES, COLES SUPERMARKETS AUSTRALIA PTY LTD, FLETCHER BUILDING LIMITED – ASX FBU, KMART AUSTRALIA LIMITED, TARGET AUSTRALIA PTY LTD, OFFICEWORKS SUPERSTORES PTY LTD, JP MORGAN AUSTRALIA LIMITED, ARNHEM INVESTMENT MANAGEMENT PTY LTD

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