As the economic order undergoes a major structural shift, Canadian investors have jumped on retail opportunities in down under.
Australia’s largest discount retailer, The Reject Shop, is a quiet achiever on the business front and is known locally for selling a range of cheap goods from confectionary, tupperware, to gardening tools.
The chain has 390 stores across Australia—65 more than the Wesfarmers’ owned Kmart.
But things may not be so quiet anymore.
The Reject Shop’s share price surged when Canadian discount store giant Dollarama put its $259 million (US$165 million) takeover offer out in late March.
Dollarama agreed to purchase all shares of The Reject Shop for $6.68 per share, more than twice the chain’s last closing price of $3.15 on March 26….