Woolworths Holdings shareholders vote for David Jones takeover

 In Australia, International, NewZealand, Woolworths
South African retailer Woolworths has secured shareholder approval to ­proceed with its $2.2 billion takeover of David Jones, but the acquisition remains under a cloud until ragtrader Solomon Lew declares his hand.

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Woolworths shareholders ­overwhelmingly approved the ­acquisition and a $1 billion capital raising at an extraordinary general meeting in Cape Town on Tuesday, overcoming one of the major hurdles to the deal.

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“What this does is remove some uncertainty for David Jones shareholders,” a spokesman for Woolworths said. Sydney Morning Herald – Read more…

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