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Australia's Myer jumps after rival David Jones accepts Woolworths takeover
April 9, 2014 / 12:30 AM / 3 years ago

Australia's Myer jumps after rival David Jones accepts Woolworths takeover

A customer smiles as she shops at a Myer store in central Sydney August 25, 2009. REUTERS/Daniel Munoz

SYDNEY (Reuters) - Shares in Australia’s Myer (MYR.AX) jumped as much as 8.9 percent after rival David Jones DJS.AX agreed to a takeover from South Africa’s Woolworths Holdings (WHLJ.J).

David Jones, Australia’s No.2 department store operator, said it had agreed to a takeover offer from Woolworths Holdings that valued the company at around A$2.15 billion ($2 billion).

Shares in Myer were trading up 4.1 percent at two-week highs of A$2.39 by 0012 GMT.

Reporting by Thuy Ong; Editing by Paul Tait

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