David Jones Approached By Mysterious UK Bidder

A mysterious bidder is reported to be interested in the takeover of David Jones. Believed to be from the UK, the mysterious bidder is also credited for being responsible in its recent stock soaring to as much as 17 percent.

Robert Savage, the company’s chairman, reportedly received a letter from this British entity. He also revealed that there is no public information about the mysterious person. Thus, the board of directors and other heads of the company believe this is not even worth considering or approaching.

Analysts say that with this new development, merger acquisition talks will now push forward after being put on hold for a while. It also confirms that the David Jones’ domestic retail stocks are now in play.

One analyst, however, said that the approach was a bit strange. He added that this may be a new consortium of business owners who are getting together to launch an offer.

Exercising care in engaging with the party was its unsolicited advice to David Jones and its board. Industry analysts also remind everyone about the failure of another company, Billabong, to deal with the approach properly. Billabong shares are now down by half.

David Jones has issued a statement to its shareholders as well, advising everyone to treat recent turn of events with caution.

Also known as DJs, David Jones Limited is one of the more upscale department stores in the country.