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Wesfarmers is believed to have sweetened its offer for Coles Group and appears to be close to securing a A$20.8 billion ($23b) deal with the retailer in what would be the largest takeover in Australian corporate history.
The Coles board has spent the weekend assessing whether a takeover offer from Wesfarmers would give investors sufficient value.
A spokesman for Wesfarmers, the frontrunner to take over the Coles empire, has confirmed the group lodged a bid for all of Australia's second largest retailer.
- AAP
