Myer has approached billionaire Solomon Lew’s Premier Investments to propose a merger with its Just Jeans, Jay Jays, Portmans, Jacqui E, and Dotti brands that would give Lew a seat on the board of the department store giant.
“Myer will progress discussions with Premier to explore the potential combination with Apparel Brands. The discussions with Premier are preliminary, non-binding and exploratory in nature and there is no certainty that any transaction will eventuate,” Myer said. Lew’s private investment vehicle and Premier’s biggest shareholder, Century Plaza Investments, would then become the biggest Myer shareholder., said the department store had more to explore to achieve its full potential.
Source: News Formal (newsformal.com)
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