Solomon Lew’s Premier Investments has taken a further 3 per cent stake in Myer, bringing the group’s holdings to 26 per cent.
Stockbroker Shaw and Partners secured 17.5 million shares on Monday afternoon, at 92c each, which the AFR reports was for Premier Investments.
At 92c a share, these latest holdings are far more costly than the 50c-a-share Premier paid in August, and more than double the 45c per share they paid last February.
Premier Investments can buy no more than 3 per cent of Myer shares every six months without making a takeover bid for the company – meaning Lew is likely to take another 3 per cent bite in August, assuming of course that a takeover bid isn’t planned.
