Struth: Coles Myer to be bought by Americans!

August 18, 2006

Via the SMH

cmlCOLES MYER is likely to fall into foreign hands in what is shaping as the biggest corporate takeover in Australian history, valued at more than $16 billion.

A group of US financiers, believed to be led by the private investment firm Kohlberg Kravis Roberts & Co, is understood to be behind an approach to the retail giant, founded in 1900.

A successful bid for Coles Myer, valued at nearly $15 billion, would easily top BHP’s $9.2 billion buyout of WMC Resources last year. It would be one of the world’s 10 biggest corporate takeovers.

That’s one big takeover, and it a takeover that will affect 100% of all Australians, after all, there would be no Australians who don’t at least on occasion shop at a CML store or buy stuff from them…..

Update: had the radio on since I wrote this, all the normal idiots were on talking about how they’d boycott CML stores etc…how we cant let it be bough by foreigners…these are the same morons who bag CML anyway, calling them things like an evil multinational despite the fact that it’s a great Australian sucess story. I hope the Americans do buy it, then these morons can actually call the company multinational accurately.

One response to Struth: Coles Myer to be bought by Americans!

  1. Kohlberg Kravis Roberts & Co.? The guys who bought out RJR Nabisco? I hope they don’t sell off parts of Coles to pay off the debts incurred during the buyout. 🙁