Woolworths, Lowe’s weigh Masters options as clock starts ticking

 In Australia, NewZealand, Woolworths
Woolworths is expected to pull the plug on its $2.2 billion foray into the home-improvement market if joint venture partner Lowe’s decides to exercise an option to sell its $1.1 billion stake.
Analysts believe Woolworths is unlikely to continue to run the loss-making Masters chain single-handedly if Lowe’s exercises its put option and forces Woolworths to buy its 33 per cent stake for more than $800 million.
"If Lowe’s wants out Woolies will want out as well," one analyst said.  Sydney Morning Herald – Read more…

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