I basically pointed out the news that came out today that The Warehouse have finally officially kicked their "Extra" format grocery stores into touch.
Personally I don't think The Warehouse gave the Extra format enough time and scale to succeed, at 3 years and 3 stores, though at least the cost of withdrawal will not be too cumbersome for the company and shareholders.
The focus now lay on what the two predators Foodstuffs and Woolworths Australia [WOW.ASX] will now do.
Late night meetings in both camps will be par for the course and we may see a bid next week subject to advice from legal counsel for the two companies and lawyers from the Commerce Commission.
Disclosure: I own WHS shares
The Warehouse @ Share Investor
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The case for The Warehouse without a buyer
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Woolworths seek leave to appeal to Supreme Court
Warehouse appeal decision imminent
Warehouse decision a loser for all
Warehouse Court of appeal decision in Commerce Commission's favour
MARKETWATCH: The Warehouse
The Warehouse takeover saga continues
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History of Warehouse takeover players suggest a long winding road
Court of Appeal delays Warehouse bid
The Warehouse set for turbulent 2008
The Warehouse Court of Appeal case lay in "Extras" hands
WHS Court of Appeal case could be dismissed next week
Commerce Commission impacts on the Warehouse bottom line
The Warehouse in play
Outcomes of Commerce Commission decision
The fight for control begins soon
Related Links
Warehouse results
Audited Results for the financial year ended 27 July 2008.pdf (1MB)
Warehouse Corporate profile
2008 Interim Report
Shareinvestorforum.com -Discuss this company
Related Amazon reading
Joining Forces: Creating and Managing Successful Mergers and Aquisitions by Joseph E. McCann
Buy used from: $12.00
c Share Investor 2008
Darren,
ReplyDeleteI do notthink there wil be any bids until earnings are realised not just anticipated. In the current climate, current forecasts can be out the window in a matter of weeks. The perceived value of a company may change dramatically over a short period. Thus any bids would be foolish at this stage and I think woolworths and Foodstuffs both know this.