Wesfarmers bids

WA’S biggest industrial company, Wesfarmers, has won more than 90 per cent of takeover target Howard Smith and will move to compulsorily acquire the remainder.

The $2.6 billion acquisition of the hardware and industrial supplies group is aimed at amalgamating Wesfarmers’ Bunnings stores with Howard Smith’s BBC Hardware chain. The result will be a hardware retailer with sales of $2.4 billion.