Myer and Premier Investments Announce Merger to Strengthen Retail Operations

Myer Holdings Ltd (ASX: MYR) and Premier Investments Limited (ASX: PMV) shares saw strong gains on Tuesday following news of a merger agreement. Myer’s share price rose 5% to $1.02, while Premier Investments jumped 15% to $35.67. Under the deal, Myer will acquire Premier’s Apparel Brands business in Australia and New Zealand, including popular brands like Just Jeans and Jay Jays, through issuing new shares.

This merger is set to create a $4 billion revenue entity with 783 stores and a workforce of 17,300. Premier will receive 890.5 million new Myer shares, equating to around $864 million. Post-transaction, Premier shareholders will own 51.5% of Myer, with Premier’s chair Solomon Lew becoming Myer’s largest shareholder. Premier will retain its Peter Alexander and Smiggle brands, focusing on their growth.

Customer Notice:

Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.

Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com