The world’s largest food grocer wants to buy the shares in the loss-making retailer it does not already own
Majority owner Walmart has offered to buy all the shares in loss-making Massmart it does not already own and, if successful, delist from the JSE, with CEO Mitchell Slape stepping down at year-end.
Walmart would pay R62 a share, which is a 53% premium to the sale closing price on Friday and a 68.7% premium to the 30-day volume weighted average price, up until the day before the announcement. ..A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.
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