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New investor in Myer boosts share price, sets up faceoff with activist Solomon Lew

By Laurel Henning ( September 17, 2018, 06:24 GMT | Insight) -- Australian department-store chain Myer Holdings has seen an uptick in its share price after a new substantial shareholder on its registry — Wilson Asset Management — disclosed a 5.46 percent stake in the retailer. The fund says it only invests where it can “identify a catalyst [that will] change the market’s valuation of the company,” and is understood to support Myer, as it faces down criticism from activist investor Solomon Lew's Premier Investments.Australian department-store chain Myer Holdings has seen an uptick in its share price after a new substantial shareholder on its registry — Wilson Asset Management — disclosed a 5.46 percent stake in the retailer. The fund says it only invests where it can “identify a catalyst [that will] change the market’s valuation of the company,” and is understood to support Myer, as it faces down criticism from activist investor Solomon Lew's Premier Investments. ...

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