Lew increases stake, rips into disastrous Myer

Original article by Sue Mitchell
The Australian Financial Review – Page: 1 & 16 : 7-Jul-21

Myer Holdings’ shares rose 15 per cent to $0.425 on 6 July, after revelations that businessman Solomon Lew has increased his stake prompted speculation of a takeover bid. Lew’s Premier Investments lifted its stake in Myer to 15.77 per cent on 5 July, and further share purchases on the following day is believed to have increased this to around 18 per cent. Lew says Myer’s performance has been disastrous for shareholders, employees, customers and suppliers. He has also criticised Myer’s board over its lack of progress regarding the appointment of a successor to former chairman Garry Hounsell.

CORPORATES
MYER HOLDINGS LIMITED – ASX MYR, PREMIER INVESTMENTS LIMITED – ASX PMV

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