Brandon How

The supermarket giant is challenging an ACCC ruling that blocked a new Kalgoorlie store and could shape future expansion under merger laws. Coles said it remains confident in its broader new store pipeline. Alex Cimbal/Shutterstock.com. Coles has launched the first challenge to a decision made under the Australian Competition and Consumer Commission’s new merger regime, in a case that could constrain the supermarket giant’s ability to open new stores.

Market watchers are questioning the Swedish private equity fund’s unusually strict confidentiality clause in a revised bid for Perpetual. Both parties seem to be open to considering the bid even if the confidentiality clause was immediately violated. AAP. EQT’s revised $2.55 billion offer to acquire Perpetual contained an unusually strongly-worded confidentiality clause that was violated almost immediately. The market is now questioning whether the Swedish private equity firm is playing games.

The fund also still managed to maintain its final dividend at 6.5 cents per share fully franked and a special dividend of 3 cents per share that will both be paid on 21 August. This puts total dividends for the year at 14 cents per share, up from 11 cents in the previous year. The context: Assistant AFIC portfolio manager Stuart Low told Capital Brief that despite the underperformance, he remains pleased with the fund’s “longer term performance since inception” 27-years ago.