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Published reports say that Coles Group, Australia’s second largest retailer, has set June 25 as a deadline by which final bids much be submitted for the company.

Coles has been on the sales block for several months, with a consortium led by private equity firm Kohlberg Kravis Roberts (KKR) showing interest, as is Westfarmers, an Australian D-I-Y chain. Tesco reportedly was interested in making a bid, but decided against it just last week.

KKR made a bid worth $15 billion (US) last year, but it was rejected by the Coles board.
KC's View:
The elephant in the room is Wal-Mart, which hasn’t made a move on Coles. Yet.