In a brief statement to the market, David Jones said the approach was made by a non-incorporated UK entity about which ''no usual public information is available’’.
In a brief statement to the market, David Jones said the approach was made by a non-incorporated UK entity about which ''no usual public information is available’’. Kieran Salsone

David Jones shares soar

STRUGGLING upmarket department store David Jones has received an unsolicited takeover approach from a British company, which could potentially value the retailer at more than $1.4 billion and spark a consolidation of the underperforming Australian retail sector.

David Jones told the Australian Securities Exchange this morning it had received an unsolicited letter from a non-incorporated UK entity indicating its interest in making an offer for the retailer.

It is believed that David Jones chief executive Paul Zahra is currently overseas in Europe, beleived to be on holidays.
Advertisement: Story continues below

In a brief statement to the market, David Jones said the approach was made by a non-incorporated UK entity about which ''no usual public information is available''.

"The directors do not believe they currently have relevant information to enable them to qualify or value the approach but should this change will advise the market accordingly,'' David Jones said in a statement this morning.

Read more at Brisbanetimes.com.au
 



Passion and grudges in Gympie Cricket final this weekend

premium_icon Passion and grudges in Gympie Cricket final this weekend

'We will be fired up looking to change that result this time'

Gym, phone, party: Gympie man breaks DVO 3 times in week

premium_icon Gym, phone, party: Gympie man breaks DVO 3 times in week

Magistrate slaps down fine, asks why man blames everything else.

Free hearing checks coming to Gympie

Free hearing checks coming to Gympie

Health bus brings service to region this month.