(Reuters) - SYDNEY, July 3 - Shares in both Wesfarmers Ltd.
and Coles Group Ltd. slumped on Tuesday after
investors raised questions about the Australian conglomerate's
ability to quickly turn around the country's No.2 retailer
after an agreed $17 billion bid.
Investors are also disappointed by the increased scrip
component used to fund the A$20 billion deal,
after Wesfarmers shares rose 24 percent since April, when it
first declared its intention to buy Coles.
Read more at Reuters.com Mergers News
and Coles Group Ltd. slumped on Tuesday after
investors raised questions about the Australian conglomerate's
ability to quickly turn around the country's No.2 retailer
after an agreed $17 billion bid.
Investors are also disappointed by the increased scrip
component used to fund the A$20 billion deal,
after Wesfarmers shares rose 24 percent since April, when it
first declared its intention to buy Coles.
Read more at Reuters.com Mergers News
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