JB Hi-Fi buys The Good Guys for $870 million

 In Australia, NewZealand
JB Hi-Fi will buy rival electronics and whitegoods retailer The Good Guys for $870 million.
The company announced the long-speculated acquisition on Tuesday morning, saying it would create new opportunities for each brand to grow store numbers and market share.
The takeover will be funded by a $349 million equity raising, through retail and institutional entitlement offers of about 15 million new shares, and $500 million from new and existing debt facilities. Sydney Morning Herald – Read more…

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