Wednesday, June 27, 2007

Blackstone pulls out of bidding for Coles: source

(Reuters) - Investors pushed Wesfarmers' shares up as much as 1.7 percent on hopes its A$19.7 billion offer for the troubled supermarket chain will be successful. Wesfarmers shares ended in negative territory amid a broader market selloff.




If it succeeds, the takeover would be the largest in Australian corporate history.


Read more at Reuters.com Business News

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