Greg Smith: Devon Funds Management expert unpacks the Warehouse takeover offer deal
Details surrounding the Warehouse takeover offer have been revealed.
Australian private equity firm Adamantem Capital Management has offered to buy the business for $1.50 to $1.70 a share, valuing it at a total of $590 million.
Greg Smith from Devon Funds Management has labelled this move 'opportunistic' as the retail sector struggles.
"They haven't even got a CEO - it does seem to be quite opportunistic, particularly if you've got a ray of light for the retail sector if we do get that rate cut from RBNZ."
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