Woolworths (ASX: WOW) Lobs $243m Bid for MyDeal.com.au

Australian Financial Review2022-05-20

Grocery giant Woolworths Group has lobbed an offer for the 80 per cent of ASX-listed MyDeal.com.au not owned by its management that values the online marketplace - including its debt - at $243 million...

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alex alexalex
2022-05-20
alex alexalex
沒
WarisHeng
2022-05-20
WarisHeng
Ok
不怕死
2022-05-20
不怕死
Thanks
不怕死
2022-05-20
不怕死
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cryptous
2022-05-20
cryptous
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xiaobaii
2022-05-20
xiaobaii
like & comment please

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Last September it launched its own online marketplace - Everyday Market.The offer price of $1.05 cash a share via scheme of arrangement represents a significant premium to MyDeal’s last closing price of just 65¢.Sean Senvirtne, MyDeal’s founder and chief executive, and key management shareholders will retain a 20 per cent interest in MyDeal, and will further lead the business in partnership with Woolworths.The company listed in October 2020 during the lockdown shopping boom at $1 a share. Itmade a strong debut,soaring more than 80 per cent on its first day of trade on the ASX. But it has been a spiral downwards since then, in line with other online retailers such asKogan.com, Adore Beauty and Temple&Webster.MyDeal was born in 2011 and has grown to be one of Australia’s top online marketplaces. The platform hosts about 1900 sellers offering more than 6 million products in categories such as furniture, homewares and everyday needs.It has more than 1 million active customers and generated gross transaction value (GTV) of $260 million in the 12 months ended March 31.Woolworths CEO Brad Banducci was not immediately available for comment, but a company statement said MyDeal would enhance the group’s marketplace capabilities targeting furniture, homewares and other bulky goods, including Big W’s existing general merchandise offer.“The addition of MyDeal to Woolworths Group represents a further step towards delivering a more holistic customer experience in food and everyday needs and materially expands our marketplace capabilities, especially in general merchandise,” Mr Banducci said in the statement.Mr Senvirtne said the team was excited by the opportunity to partner with Woolworths, which would help support the growth of its retail platform by accessing the chain’s capabilities across e-commerce, supply chain, retail and loyalty.Mr Senvirtne, who holds a 47.3 per cent stake in MyDeal, said he intends to vote in favour of the transaction, which got the board’s unanimous recommendation in the absence of a superior proposal.He has also granted Woolworths a call option over 19.9 per cent of his MyDeal shares. Additionally, MyDeal shareholders Silver Globe and Aavasan (the Gandel family), which together control 28.6 per cent of shares, have advised they intend back the deal.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":9021832796,"gmtCreate":1653023863715,"gmtModify":1676535210654,"author":{"id":"3583241719564784","authorId":"3583241719564784","name":"alex alexalex","avatar":"https://community-static.tradeup.com/news/70b9686e00805fd5dc432e73e65c8f37","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3583241719564784","authorIdStr":"3583241719564784"},"htmlText":"沒","listText":"沒","text":"沒","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9021832796","repostId":1127009349,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":9021160196,"gmtCreate":1653013320115,"gmtModify":1676535208500,"author":{"id":"4089459519603980","authorId":"4089459519603980","name":"WarisHeng","avatar":"https://static.tigerbbs.com/f152c428f94eef79d97567fa3c7400da","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"4089459519603980","authorIdStr":"4089459519603980"},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9021160196","repostId":1127009349,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9021185374,"gmtCreate":1653013099798,"gmtModify":1676535208418,"author":{"id":"4091242839202020","authorId":"4091242839202020","name":"不怕死","avatar":"https://static.itradeup.com/news/ac91e7b85fb242bc024fdf8db31ba30f","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"4091242839202020","authorIdStr":"4091242839202020"},"htmlText":"Thanks&nbsp;","listText":"Thanks&nbsp;","text":"Thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9021185374","repostId":1127009349,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9021182784,"gmtCreate":1653013091048,"gmtModify":1676535208410,"author":{"id":"4091242839202020","authorId":"4091242839202020","name":"不怕死","avatar":"https://static.itradeup.com/news/ac91e7b85fb242bc024fdf8db31ba30f","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"4091242839202020","authorIdStr":"4091242839202020"},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9021182784","repostId":1127009349,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9021189581,"gmtCreate":1653012722043,"gmtModify":1676535208153,"author":{"id":"3581640085724727","authorId":"3581640085724727","name":"cryptous","avatar":"https://static.tigerbbs.com/c66c79b1c0f576bf4133fe7ceb3916ae","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3581640085724727","authorIdStr":"3581640085724727"},"htmlText":"L","listText":"L","text":"L","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9021189581","repostId":1127009349,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9021180890,"gmtCreate":1653012534810,"gmtModify":1676535208118,"author":{"id":"3571345352614779","authorId":"3571345352614779","name":"xiaobaii","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3571345352614779","authorIdStr":"3571345352614779"},"htmlText":"like &amp; 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