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Opinion: What’s behind Lew’s move for Myer shares?

(Source: Bigstock)
Solomon Lew’s latest purchase of Myer shares is another twist in an entire business career entwined with the iconic department store. Lew has revived speculation about a takeover bid for Myer after lifting his shareholding to almost 20 per cent. The move was somewhat surprising, given Lew passed on increasing his shareholding last year, when Myer’s stock was a bargain basement 28 cents a share. Lew is understood to have paid a small premium on the market price for the latest purchase, which