Wesfarmers Is Dipping Its Toe Into Uncharted Waters; Fair Value Estimate Unchanged at AUD 28
Wide-moat rated Wesfarmers’ conditional proposal to acquire rare earth miner and processor Lynas Corporation puts resources back on the agenda. Wesfarmers only just completed the sale of its two coal mines in 2018, reducing its exposure to volatile commodity prices. However, adding Lynas would help diversify the heavily retail-centric portfolio and provide exposure to fast-growing high-tech industries, such as electric vehicles.Wesfarmers’ non-binding indicative proposal to acquire Lynas for AU...
Wesfarmers is engaged in the retailing operations including supermarkets, merchandise and department stores, fuel, liquor and convenience outlets; retailing of home improvement and outdoor living products and supply of building materials; retailing of office and technology products; coal mining and production; gas processing and distribution; industrial and safety product distribution; and chemicals and fertilisers manufacture; and investments. Co.'s retail operations includes Coles, which operates Coles Supermarkets, Coles Express, Liquorland, Vintage Cellars, First Choice Liquor, and Spirit Hotels, among others; while its departmental operations include Kmart and Target retailers.
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