MyDeal

The grocery giant has lobbed an offer for an 80 per cent stake in the online marketplace via a scheme of arrangement for cash of $1.05 per share, ...

He has also granted Woolworths a call option over 19.9 per cent of his MyDeal shares. Carrie LaFrenzhas more than 10 years' experience as a business journalist having previously covered healthcare, retail/consumer goods, industrials and agribusiness. The deal was dropped in January, leaving Wesfarmers to take control. Connect with Carrie on The MyDeal platform hosts about 1900 vendors offering more than 6 million products in categories such as furniture, homewares and garden. MyDeal shares jumped 55.8 per cent to $1 each on Friday after the offer. EziBuy was purchased only three years earlier under Grant O’Brien. Mr Senvirtne, who holds a 47.3 per cent stake in MyDeal, said he would vote in favour of the transaction, which got the board’s unanimous recommendation without a superior proposal. Mr Senvirtne said the team was excited by the opportunity to partner with Woolworths, which would help support the growth of its retail platform by accessing the group’s capabilities across e-commerce, supply chain, retail and loyalty. “The addition of MyDeal to Woolworths Group represents a further step towards delivering a more holistic customer experience in food and everyday needs and materially expands our marketplace capabilities, especially in general merchandise,” Mr Banducci said in the statement. When Mr Banducci took over as chief executive in 2016, he not only cut the ill-managed expansion into home improvement with Masters, he sold the EziBuy online business and wrote off the asset to the tune of $300 million. Supermarket giant Woolworths Group has offered to buy the 80 per cent stake of Mydeal.com.au not owned by its management, lifting the online marketplace’s value – including its debt – to $243 million.