Myer Holdings Limited (AU:MYR) has released an update.
Myer Holdings Limited has proposed a strategic all-scrip merger with Premier Investments’ Apparel Brands, potentially transforming the scale and market position of both entities. The non-binding proposal includes plans for shared services and the possibility of Mr. Solomon Lew, Chairman of Premier, joining Myer’s Board as a non-executive director. While the deal requires approval from various stakeholders and regulatory bodies, Premier has commenced due diligence to further assess the proposal’s benefits.
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