Wesfarmers hits Homebase

Wilson Asset Management

Wilson Asset Management

On Thursday, Wesfarmers (ASX: WES) announced an offer to acquire United Kingdom DIY retail chain Homebase from Home Retail Group for £340 million (A$700 million). The company plans to rebrand the Homebase chain of 265 stores across Britain and Ireland as Bunnings. Wesfarmers said the British home improvement and gardening business was “an attractive and growing market’’. The acquisition is the first offshore by Wesfarmers. Shares in Wesfarmers closed down 0.8% for the week. We do not own Wesfarmers in the investment portfolio.


1 topic

1 stock mentioned

Wilson Asset Management
Wilson Asset Management

Wilson Asset Management has a track record of making a difference for shareholders and the community for 25 years and is the investment manager for eight LICs - WAM Capital (ASX: WAM), WAM Leaders (ASX: WLE), WAM Global (ASX: WGB), WAM Microcap...

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.

Comments

Sign In or Join Free to comment