• DAVID JONES: Ambassador Jessica Gomes.
    DAVID JONES: Ambassador Jessica Gomes.
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The Federal Court has handed down its decision on whether to allow a $2.2 billion takeover bid for David Jones to proceed.

The department store deal has been cleared by the court, without opposition from the Australian Securities and Investments Commission.

It is expected that a copy of the Court’s orders will be lodged with the Australian Securities and Investments Commission on 18 July 2014, at which time the arrangement will become legally effective.

If this occurs, David Jones’ will apply for its shares to be suspended from trading at the close of trading on Australian Securities Exchange on 18 July 2014.

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