Coles Myer Limited Takeover

Coles Myer Ltd has had a ptoential takeover offer. There has been speculation on this price being up to $18 Billion. The current price of the company is around $16 billion

For the moment I think the share has skyrocketed too far. For those that hold this share they should continue to hold and see what the takeover offer is going to be.

For those not owning it steer clear as without a clear offer it is all specualtion and there is a good chance it could be lower than the current price ( as it was proposed when coles was worth under $14 billion ).

There is also the government to consider as they have the final say on the deal. There is a good chance they could turn this down as it may reduce competition in the longer term.

Keep an eye on it.