Australia's Westfield, Multiplex in battle over Chelsfield
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Australian property giant Westfield Group announced a 585 million pound bid to acquire British shopping center operator Chelsfield, a move seen as likely to spark a bidding war with rival Multiplex.
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Coles Myer, the Australian retailer, rejected a $13 billion offer from buyout firms led by Kohlberg Kravis Roberts & Company as too low. The offer, 14.50 Australian dollars ($11.16) a share, Âsubstantially undervaluedÂ the company, said Coles MyerÂs chairman, Richard H. Allert. The bidding group, which includes Bain Capital and the Blackstone Group, wanted management backing for the offer, Mr. Allert said. Coles Myer, which is based in Melbourne, has about 35 percent of AustraliaÂs grocery market, and Woolworths, based in Sydney, has about 40 percent.
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The Wembley Stadium developer is facing class action by its shareholders,  Australian press reports say.
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LONDON (CBS.MW) -- Australian companies The Westfield Group and Multiplex, as well as the Reuben brothers said they will bid 585 million pounds ($1.
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SYDNEY (Dow Jones)--Australian building materials group James Hardie Industries NV (JHX) came under fire Wednesday from disgruntled shareholders and union groups
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Australasian grocer Foodland Associated which owns major chains in New Zealand says the hostile takeover bid by rival Metcash is complex and risky, and is urging shareholders not to act on the $920 million bid.
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Woolworths Ltd., Australia&#39;s biggest grocer, may be drawn into a bidding war for Australian Leisure &amp; Hospitality Group, after US buyout firm Newbridge Capital made aA$1.
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Australian retailer Coles Myer intensified the battle for the ALH pubs and liquor chain yesterday, topping an offer by Woolworths with aA$1.
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SYDNEY: Australia&#39;s biggest supermarket group, Woolworths Ltd, won a fierce $A1.33 billion battle for pubs chain ALH yesterday, beating out rival Coles Myer Ltd which conceded defeat.
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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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Canada-based Brookfield Asset Management Inc.  has made a takeover approach for Australia's A$4 billion ($3.1 billion) Multiplex Group Ltd. , the construction and property group said, sending its shares up 7.5 percent.
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SINGAPORE The takeover battle for Australian Leisure &amp; Hospitality Group and its liquor stores appeared to come to an abrupt end on Tuesday as the retailer Coles Myer handed its rival Woolworths what analysts said might prove a Pyrrhic victory.
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By Serdar Tumgoren, The Dispatch, Gilroy, Calif.  Sep. 20--GILROY -- Before the public ever learned of Westfield  Corporation's plans to build the biggest shopping center in Gilroy history, a  small circle of local officials knew about the effort.
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Some of Australia's top fund managers  face big losses from the this week's 80 percent slump in Centro  Properties Group shares, as several of the mall operator's  rivals begin to scan its assets for possible purchases.
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AUSTRALIA&#39;S telecommunications players have chosen sides in the pending war to win consumers to the new generation of mobile phones.
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The battle for control of Australian Leisure &amp; Hospitality Group erupted into an unseemly free-for-all yesterday as Woolworths set a tight four-hour deadline for fund managers to deal themselves
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SYDNEY: Australian shopping center giant Westfield is teaming up with property group Multiplex and Aldersgate Investments to make a cash offer for Duelguide, the company which owns British developer Chelsfield.