Retailer Massmart’s share price on the JSE rose by more than 45% on the morning of August 29, after the company announced that it had reached an in-principle agreement with US-based retail corporation Walmart about a potential offer to acquire any outstanding shares in Massmart is does not already owned. If the proposed offer is made and implemented, it would result in the delisting of all Massmart ordinary shares from the main board of the JSE.
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