Department store retailer Myer Holdings Limited
(ASX:MYR) is pushing ahead for a merger with its rival David Jones Limited
(ASX:DJS), even after DJs rejected the company’s first merger proposal in October 2013.
On the same day Myer announced the re-appointment of its CEO and Managing Director Bernie Brookes yesterday DJs responded to the company’s latest approach after the market closed.
David Jones says it has received a letter from Myer’s Chairman reiterating its interest in a merger between the two department stores. The company plans to consider the letter and says it will respond to Myer in due course.
Reports have speculated Myer’s offer for David Jones could be worth as much as $3 billion.
Shares in Myer Holdings rose 4.07 per cent on Thursday to close at $2.57.
Myer Holdings reported a net profit of $130 million in the 2013 financial year.
