Deal or hoax? Mystery surrounds DJs takeover bid

THE office linked to the website of the private equity firm that has launched a takeover bid for David Jones is a two-storey Victorian premises between a wig shop and a noodle restaurant in the back streets of Newcastle in northern England.
Nanjing Night Net

Amid speculation that the bid could be a hoax, the Australian Securities and Investments Commission is examining all trading in DJs shares in the lead-up to Friday’s $1.65 billion bid made by little-known real estate investor EB Private Equity.

Neil Hume, senior markets correspondent for the Financial Times, yesterday tweeted what appeared to be the only response from the bidder – which did nothing to provide an insight into the mystery of who is behind the company.

Mr Hume said: ”Finally, a response from EB Private Equity – ‘Thank you for your email, we have no comment at this time. Kind regards, EB Private Equity’.”

Speculation about the authenticity of the bid was fuelled because it was first reported by a financial blogging website also based in Newcastle, which has posted only five stories since its recent launch.

The company’s website was built by a 20-year-old woman but her telephone went unanswered yesterday.

Asked if the board was meeting over the weekend to consider the bid, a spokeswoman for David Jones said: ”I can’t disclose.”

This story Administrator ready to work first appeared on Nanjing Night Net.

Leave a Reply

Your email address will not be published. Required fields are marked *