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Wesfarmers, Woolworths and KKR—the players thought most likely to snap up chunks of ailing retailer Coles Group—are staying out of the data room as they jockey for position ahead of any auction of the embattled company, according to a report in The Age.
That Coles can’t get anyone, even competitors, into a room where secret data about its performance is available, says something about the group’s ability to reach customers of any kind.
Wesfarmers, owners of Bunnings Warehouse, have sounded out the market with a $17.25-a-share offer, though analysts predict that this lower price is just the beginning.
Coles adopted the slogan “Save everyday” in 2006 after the troubled company began to require saving on a daily basis.
