Woolworths in trading halt as Metcash poised to buy hardware business

Woolworths has been placed in a trading halt amid speculation it is poised to sell its hardware business to Mitre 10 owner, Metcash.

The supermarket said it will remain in the trading halt “pending an announcement by the company”.

The announcement is expected to confirm Metcash as the buyer of Home Timber & Hardware and Woolworths’ ailing Masters business, which has long been a millstone around the supermarket’s neck.

Metcash has also entered a trading halt.