Briefs
Woolworths investors approve Australian David Jones deal worth $2bn
By Wendell Roelf
The deal, once finalised, would create one of the leading retailers in the southern hemisphere, benefiting from an increased number of stores and concurrent fashion seasons.
"It will allow us to protect ourselves from northern hemisphere entrants coming in and will allow us to be one of the biggest department stores in the world."
Its shareholders also backed the plan to issue more than 30 percent its stock for the rights offer.
Shares in Woolworths were up 1.3 percent at 78.8 rand by 1019 GMT and David Jones closed 0.52 percent higher at A$3.88 – a touch below the bid price.