Today is the day of reckoning for David Jones.
Shares in the department store have been placed in a trading halt.
The halt has commenced as shareholders vote on whether to green light a $2.2 billion takoever bid from South African-based Woolworths.
Shareholders are scheduled to begin their meeting at 1000 AEST in Sydney.
The trading halt will continue until an outcome is determined.
Woolworths requires 75 per cent of investors to back the takeover for it to go ahead.
The result could be influenced by retail powerbroker Solomon Lew, who recently purchased a 10 per cent stake in David Jones.
Woolworths has offered Lew more than $200 million for his 12 per cent stake in Country Road to get its bid for David Jones over the line.
Woolworths has a majority stake in Country Road, however Lew has yet to reveal whether he will accept the offer.
If shareholders clear the Woolworths takeover, they will receive $4 per share, above the trading share price prior to the takeover bid.
It is understood the takoever will still need approval from the Federal Court in a hearing scheduled later this week.