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Walmart puts in R6.4-billion offer for beleaguered Massmart.

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The board expects to have a full report out to shareholders in a circular in September and Dlamini says this is an opportunity for minority shareholders to realise immediate value in an environment where there are no near-term catalysts for a Massmart re-rating.
The generous offer, a 53% premium to the closing price and a 62% premium to 90-day volume-weighted average share price on Friday, 26 August, follows a R4-billion loan that Walmart granted to help Massmart survive at the height of the Covid-19 lockdowns, when the retailer was battling to stay afloat. Half of the R4-billion loan was subsequently converted, in December 2021, into equity through a perpetual fixed rate unsecured note.
29 Aug 2022 3AM English South Africa Business News · Investing

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