The Australian newspaper has reported that JB Hi-Fi is planning to make a $850 million to $900 million offer for The Good Guys next week.
It said JB Hi-Fi was expected to tap shareholders for $300 million in an equity raising to help fund the acquisition.
The electronics retailer denied this in a statement to the Australian Securities Exchange on Tuesday morning, saying it “has made no decision nor has it entered into any agreement”.
“JB Hi-Fi remains in the sale process and continues discussions with The Good Guys in regard to a potential acquisition,” it said
The Good Guys is understood to be open to takeovers while it continues to assess an IPO on the ASX.
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