Retailers prepare defence as foreign suitors search Down Under

 In Australia, NewZealand
Retailers are being warned to brace for bids from overseas raiders as the weaker Australian dollar, falling share prices and low interest rates make domestic retailers more attractive to overseas buyers than they have been for years.
Interest is likely to come not only from large United States, British and South African retailers but Chinese companies and cashed up international private equity investors. The warning comes after South African retailer Woolworths’  $2.1 billion takeover of David Jones and New Zealand’s Briscoe Group’s failed bid for Kathmandu.
Bankers say Australia’s bilateral trade agreement with China may prompt Chinese retailers who have been eyeing the Australian market to make their first move, following in the footsteps of Chinese food, dairy and property companies. Sydney Morning Herald – Read more…

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