Walmart moves to buy out Massmart minorities
to buy out minority shareholders in Makro parent, JSE-listed Massmart, as the US retail giant doubles down on its South African operations despite a challenging economic environment.
The potential offer would see Walmart acquiring all outstanding shares in Massmart for R62/share – a premium of 53% to Friday’s closing price of R40.51/share. It’s a 62% premium to the 90-day volume-weighted average share price.“The potential offer presents an opportunity for minority shareholders to realise immediate value in an environment where there are no near-term catalysts for a Massmart rerating,” Massmart said.
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