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.

Masters

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.

Be a member to keep reading

Join Mumbrella Pro to access the Mumbrella archive and read our premium analysis of everything under the media and marketing umbrella.

Become a member

Get the latest media and marketing industry news (and views) direct to your inbox.

Sign up to the free Mumbrella newsletter now.

"*" indicates required fields

 

SUBSCRIBE

Sign up to our free daily update to get the latest in media and marketing.