Best & Less CEO appointment intact under Blundy deal
Erica Berchtold, the incoming CEO of Best & Less Group, is on track to join the discount retailer in September as planned despite Brett Blundy and Ray Itaoui lobbing a zero premium, off-market takeover offer for the business.
The Australian Financial Review’s Street Talk column revealed that the pair had made a $1.89-per-share, cash offer for the chain on Sunday night – a 4.5 per cent discount to the last closing price, but supported by its biggest shareholder, private equity firm Allegro Funds.
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