Coles Group Gets Au$19 Billion Offer

Pacific Equity Partners and Westfarmers Ltd. have co-led an Au$19 billion buyout offer for Australian retailer Coles Group Ltd. The price is 8% higher than an earlier bid led by KKR, which was rejected. Others in the buyout consortium include Permira and Macquarie Bank. If closed, it would be the largest-ever buyout of an Australian company.