Woolworths shareholder Perpetual sees turnaround, not takeover, potential

Woolworths’ largest shareholder, Perpetual Investments, has played down unsubstantiated speculation the retailer may be the target of a private-equity backed takeover bid.
Perpetual Investments’ portfolio manager Vince Pezzullo said he had increased his stake in Woolworths to more than 5 per cent not because he considered Australia’s largest retailer a takeover target but because he saw turnaround potential.
"I’ve heard nothing about a bid," Mr Pezzullo told Fairfax Media. Sydney Morning Herald – Read more…