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Coles Myer takeover collapses

The takeover bid for retailer Coles Myer by US-based venture capital group Kolhberg Kravis Roberts (KKR) has been abandoned.The Coles Myer board last week rejected a revised KKR bid that valued the company at $18.2 billion, saying it ‘still considerably undervalued the company and its prospects.'Some institutional shareholders have been...

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Category: Local news