Wal-Mart offers to buy Massmart

2010-09-27 13:27

One of the world’s largest retailers, Wal-Mart, had offered to buy JSE-listed wholesaler Massmart, the local company said today.

“Massmart has received a proposal from Wal-Mart stores that could lead to Wal-Mart making a cash offer to acquire the entire issued share capital of the company for a price of R148 per share,” Massmart said in a statement.

However, there was “no certainty” that discussions between the two companies would lead to a formal offer.

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