Premier Investments has responded to media articles stating that Myer has reportedly appointed "defence" advisors.
An article in the AFR states that Myer is "bulking up for a battle" and is "is rallying the troops," allegedly appointing Ron Malek and his firm Luminis Partners for help with its "defence" against Premier and Solomon Lew, while retaining law firm Clayton Utz to "deal with...a barrage of behind the scenes legal letters."
"Premier advises that it has no current intention of launching a takeover offer for Myer," the department store's largest shareholder said in a statement.
In addition, Premier heightened its calls for Myer to release its FY21 results.
"Premier also acknowledges that Myer has confirmed that it is "fully aware of its continuous disclosure obligations."
"All Myer shareholders will remain in the dark until the Myer Board does what Premier and the vast majority of other retailers have done and update the market as a matter of urgency," Premier Investments said.
In its first half FY21 results, Myer reported a net profit after tax (before implementation costs and individually significant items, and post AASB 16) of $42.9 million – up 8.4%, with a net cash position of $201 million.
Before the impact of COVID, Myer reported a net profit after tax (on the same basis) of $39.6 million for 1H20, with net cash position of $103 million.
Meanwhile, total sales were down 13.1% in the half, to $1.4 billion.
Ragtrader has approached Myer for comment.