Leading executives from some of Australia’s largest businesses are fleeing east in response to ongoing delays to re-opening the Western Australian (WA) border. Rob Scott, CEO of AU$60 billion retail group Wesfarmers, will base himself out of the group’s Melbourne office for an “extended period” after saying it was “virtually impossible” to run the conglomerate—which…
Leading Executives Flee Western Australia Due to Strict Border Rules, Restrictions
Leading executives from some of Australia’s largest businesses are fleeing east in response to ongoing delays to re-opening the Western Australian (WA) border. Rob Scott, CEO of AU$60 billion retail group Wesfarmers, will base himself out of the group’s Melbourne office for an “extended period” after saying it was “virtually impossible” to run the conglomerate—which…
Wesfarmers Lobs $687M Takeover Bid for Australian Pharmaceutical Retail Group
Retail and hardware conglomerate Wesfarmers has lobbed a $687 million surprise takeover bid for Australian Pharmaceutical Industries, which owns the 420-strong retail chain Priceline Pharmacy. The bid was announced on July 12 and includes an 18.7 to 20.5 percent premium on the share price of the group. API’s executive board noted (pdf) that its portfolio—including…
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