Why JB Hi-Fi is a step closer to taking over The Good Guys
JB Hi-Fi is reportedly inching closer to taking over rival electronics and whitegoods retailer The Good Guys according to the Brisbane Times.
The widely tipped acquisition will be funded by a $300 million equity raising JB Hi-Fi will launch next Tuesday, according to the Australian Financial Review.
JB Hi-Fi tried to quash speculation on Tuesday, telling the stock market that it had "made no decision and nor has it entered into any agreement with respect to an acquisition".
The company "remains in the sale process and continue discussions with The Good Guys," it said in a statement released to the ASX.
But News Corp, citing sources close to the sale, reported that negotiations were almost completed and lawyers were finalising the sale documents.