BREAKING NEWS: JB Hi Fi In Talks To Buy The Good Guys.
JB Hi-Fi is again running the ruler over The Good Guys, it’s the second time that the fast growing consumer electronics Company has attempted to buy the Melbourne based retailer.
CEO Richard Murray has confirmed that the board gave the go ahead to commence initial discussions with the privately held Company after South African Company, Steinhoff International Holdings decided to walk away from spending over $800M to buy the group.
JB Hi Fi initially approached the Good Guys when Terry Smart was CEO, this was shortly after Woolworths ran a ruler over the Company who recently moved to spend $200M buying back ownership of several of The Good Guys Stores.
The Good Guys has also been working with former Bank of America Merrill Lynch veteran David Petrie, who now works for the Melbourne-based Helfen Corporate Advisory.
More to follow.