Who is the south african retail giant behind the david jones bid By gary mortimer, queensland university of technology Yesterday morning came the news south african retailer woolworths had offered $4 a share to acquire david jones, a proposal that has the approval of the department store's board.This offer, worth an estimated a$2.15 billion, represents a 25% premium over the current share price value.An earlier offer, from rival myer, was rejected earlier this year. Woolworths sa has been one of the biggest south african retailers since the early 1930s, primarily targeting middle class and wealthy consumers.The company's first foray into department stores came after world war 2, when it established strategic links with british retailer marks spencers and modelled their stores on the british retailer's layout and design.Although a close relationship still exists between them, neither has vested financial interests in the other today. Woolworths sa operates a number of dif ... Read more »