Wesfarmers wins Australia's Coles with $18 bln bid
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Wesfarmers Ltd. , which owns Australia's largest hardware chain, has agreed to buy retailer Coles Group Ltd.  for A$20.7 billion ($17.7 billion) in cash and stock, in the country's biggest takeover.
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Australia&#39;s S&amp;P/ASX 200 Index rose to a record. Foodland Associated Ltd. surged after Metcash Trading Ltd., the nation&#39;s biggest grocery wholesaler, offered A$846 million ($660 million) for Foodland&#39;s local business.
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Australia&#39;s second largest retailer Coles said Monday it had agreed to a 22 billion dollar (18.7 billion US) buyout offer from conglomerate Wesfarmers, the largest corporate deal in Australian history.
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COLES Myer chief John Fletcher yesterday declared the company on track to reach $800 million in annual profit by 2006 after handing down the highest result in the company&#39;s history, with all key divisions firing.
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SYDNEY: Australian retailer Woolworths Ltd has upped the stakes in the bidding war for ALH Ltd. offering more money than giant rival Coles Meyer did last week but then giving the pub and liquor store group just over four hours in which to accept.
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Australian retail giant Coles Myer launched a 1.18 billion dollar (861 million US) bid for pub and liquor store group ALH, trumping a lower offer by rival Woolworths.
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Australia&#39;s biggest retailer, Coles Myer, hopes it has silenced its detractors by posting a record annual profit, which was above its own guidance and market expectations.
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Australia&#39;s biggest retailer Coles Myer has posted a record net profit of Aust. $576.5 million ($403 million) and says it is on track to achieve its 2006 target of A$800 million.
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SYDNEY/ MELBOURNE  - Private equity giants Kohlberg Kravis Roberts  and CVC  pulled out of a consortium eyeing Australia's Coles Group Ltd. , but the bid group said it was still in the race for the retailer.
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Woolworths Ltd. won aA$1.3 billion ($997 million) takeover battle against Coles Myer Ltd. for Australian Leisure &amp; Hospitality, cementing its position as the nation&#39;s biggest liquor retailer.
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SYDNEY (Dow Jones)--Coles Myer Ltd. (CML.AU) blinked first in the bitter and expensive battle for a sliver of Australia&#39;s A$11 billion retail liquor market, handing victory to arch rival Woolworths Ltd.
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Australia&#39;s largest retailer, Coles Myer, waded into a takeover battle for the pub operator Australian Leisure and Hospitality Group yesterday, offering 1.18 billion Australian dollars ($856 million) in a bid with a local bank.
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SYDNEY: Coles Myer Ltd, Australiaâs biggest retailer, increased second-half profit by 26% after opening fuel and convenience stores, selling more-profitable groceries and cutting costs.
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PREMIER FOODS emerged victorious in the bidding for another slice of UK larder shelf history. The owner of Ambrosia creamed rice has bought Birdâs custard and Angel Delight brands from Kraft for Â£70 million
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AUSTRALIAN Pharmaceutical Industries has acquired New Price Retail in an attempt to bolster its retail presence amid growing competition from Woolworths and Coles.
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Consumer goods marketing and distribution company Metcash Trading Ltd said today that it had made an $A846 million ($NZ926.20 million) takeover offer for Foodland Associated Ltd&#39;s Australian business.
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COLES Myer will belatedly enter the takeover contest for Australian Leisure &amp; Hospitality today with a bid that will trump arch-rival Woolworths.