SYDNEY - Shares in Australia's David Jones jumped 23 per cent to after the department store operator agreed to a takeover from South Africa's Woolworths Holdings Ltd, valuing the company at around A$2.15 billion (S$2.52 billion).
Although they rose 25 per cent at one point to the takeover bid price of A$4.00, they later pared gains slightly to stand at A$3.94 by 0113 GMT.