Coles takeover bid accepted

Tuesday, 3 July 2007 Books+Publishing

Coles Group, Australia's largest retailer--which includes Kmart, Target and Officeworks as well as Coles supermarkets--is finally set to change hands after a bid by Wesfarmers (the owners of the Bunnings hardware chain) was accepted by the Coles board of directors. The Wesfarmers bid, which values Coles at $22 billion, is...