(MENAFN- ProactiveInvestors - Australia) David Jones (ASX: DJS) has further disclosed that EB Private Equity has made an A$1.65 billion unsolicited offer for the company.
This is claimed to consist of A$850 million in equity provided by the EBPE led consortium, A$450 million provided by a syndicate of banks and the remaining A$450 million in residual equity for existing David Jones shareholders.
David Jones had earlier said that it had received an unsolicited offer letter from "a non-incorporated UK entity" interested in making an offer for the company with chairman Robert Savage saying the directors did not believe they had enough "relevant information to enable them to qualify or value the approach".
This stance appears to have remained the same with the company saying that no details of EBPE's financial capacity, its management, or any of the terms of the residual equity have been made available.
While the latest revelation may have disproved speculation by a print media company this week that former David Jones chief executive Mark McInnes was poised to take a run at David Jones given his new position as head of Premier Retail, it is still good news for DJ's holders who have had nothing to cheer about lately given the share price of the once venerated DJ's was over $4.00 in July 2011.
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