David Jones to delay merger talks with Myer

David Jones is expected to postpone merger talks with Myer for another two weeks until both chains have released interim profit results.
As pressure from shareholders to engage in merger talks eases, DJs believes it will be in a better negotiating position once it and its rival have released sales and earnings for the six months ending in January.
DJs also wants to appoint a new chairman and hire a new investment bank and management consultant to review previous merger analysis before it embarks on talks.
”There’s no rush – what they’ve put forward isn’t that compelling,” one source said on Wednesday.Sydney Morning Herald – Read more…