n South African Food Review - Massmart votes for Wal-Mart takeover despite unions' concerns : news

Volume 38, Issue 2
  • ISSN : 0379-6000



Last month Massmart shareholders voted with an overwhelming 97% majority in favour of the R16,5 billion offer made by the US retail giant Wal-Mart to acquire a 51% stake in Massmart. The acquisition has been in the pipe-line for some time, with the offer from Wal-Mart having been formalised late in November last year.

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