Macquarie drawn into DJs farce

Kieran Salsone

MACQUARIE Bank dismissed John Edgar as a serious buyer for David Jones months ago, but that didn't stop the mystery buyer from using its name on his letter to the famous retailer.

The investment bank has been drawn into the saga by having its name included in the notice given to DJs. Indeed, some time after the first letter was sent by Edgar, Macquarie was contacted by David Jones' own advisers - Gresham - informing the bank it had been cited as an adviser.

A mysterious blog that broke the story last week suggested EB Private Equity was also being advised by UK based Chalkhill and Jones Lang Lasalle - both of which have since denied any knowledge of Edgar or his company.

This is just another piece in the puzzle of how the Australian investing public came to be sucked into the story of a bogus bid for David Jones - one that cost them $175 million. The stock soared 15 per cent when the news was leaked and fell almost as much when the offer evaporated.

Edgar has since informed David Jones that he would not pursue the offer because of adverse publicity.


Topics:  asx david jones macquarie bank stock market

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