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    WOW   AU000000WOW2

WOOLWORTHS GROUP LIMITED

(WOW)
  Report
Delayed Australian Stock Exchange  -  02:10 2022-09-30 am EDT
33.95 AUD   -1.02%
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09/14Woolworths Group Limited completed the acquisition of a 80.2% stake in MyDeal.com.au Limited from Sean Senvirtne.
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Woolworths' acquisition of MyDeal not opposed

08/12/2022 | 05:08am EDT

The ACCC will not oppose Woolworths' (ASX: WOW) proposed acquisition of online retailer MyDeal (ASX: MYD).

Woolworths, through its Big W stores and supermarkets, and MyDeal, through its online marketplace, sell a variety of general merchandise products to consumers including furniture, health and beauty products, homewares and electronics.

In addition to retailing their own products, Woolworths and MyDeal also operate online marketplaces which are used by third-party sellers to retail products online. MyDeal operates the MyDeal platform, and Woolworths operates Everyday Market from Woolworths.

The ACCC's review examined online retail competition and competition between third-party marketplace platforms.

"Following our review and feedback from market participants, we do not consider that Everyday Market from Woolworths is a significant competitor to MyDeal or other online marketplaces and consequently, this acquisition is unlikely to substantially lessen competition," ACCC Commissioner Liza Carver said.

The ACCC also found it was unlikely that Woolworths' retail position could be leveraged into MyDeal's online sales marketplace in an anti-competitive way.

"Woolworths would continue to face significant competition from online marketplace platforms available to third-party sellers," Ms Carver said.

Further information is on the ACCC's public register at Woolworths Group Limited proposed acquisition of MyDeal.com.au Limited. Background

The ACCC commenced a review of the proposed acquisition on 14 June 2022.

Woolworths operates a large network of supermarkets and approximately 176 bricks and mortar 'Big W' stores throughout Australia. Woolworths also operates Big W online, which sells Big W products, and Everyday Market from Woolworths.

MyDeal is a publicly listed Australian online retailer and marketplace which was founded in 2012. Release number: 107/22ACCC Infocentre:

Use this form to make a general enquiry. Media enquiries: Media Team - 1300 138 917, media@accc.gov.au

.

(C) 2022 M2 COMMUNICATIONS, source M2 PressWIRE

Stocks mentioned in the article
ChangeLast1st jan.
MYDEALCOM 0.00% 1.05 Delayed Quote.32.08%
WOOLWORTHS GROUP LIMITED -1.02% 33.95 Delayed Quote.-10.68%
All news about WOOLWORTHS GROUP LIMITED
09/28Woolworths Group Limited Announces Executive Appointments
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09/23Mydeal.com.au Implements Scheme of Arrangement Deal
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09/14Woolworths Group Limited completed the acquisition of a 80.2% stake in MyDeal.com.au Li..
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09/13Mydeal.com.au Secures Court Approval for Woolworths Takeover
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09/07Woolworths : Modern Slavery Statement (print friendly)
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09/06Woolworths : Modern Slavery Statement
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09/06MyDeal.com.au Secures Shareholders Approval for Woolworths Takeover
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Analyst Recommendations on WOOLWORTHS GROUP LIMITED
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Financials
Sales 2023 62 879 M 40 510 M 40 510 M
Net income 2023 1 679 M 1 082 M 1 082 M
Net Debt 2023 15 531 M 10 006 M 10 006 M
P/E ratio 2023 24,6x
Yield 2023 3,04%
Capitalization 41 049 M 26 446 M 26 446 M
EV / Sales 2023 0,90x
EV / Sales 2024 0,86x
Nbr of Employees 197 773
Free-Float 99,7%
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Technical analysis trends WOOLWORTHS GROUP LIMITED
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 15
Last Close Price 33,95 AUD
Average target price 37,45 AUD
Spread / Average Target 10,3%
EPS Revisions
Managers and Directors
Bradford Banducci Chief Executive Officer, MD & Executive Director
Stephen Harrison Chief Financial Officer
Gordon McKellar Cairns Independent Chairman
John Hunt Chief Information & Replenishment Officer
Marcin Michal Firek Director-People Reward, Risk & Compliance
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