Recently recieved in the mail an invition to participate in CML's share buyback what do you guys think. I believe they are selling off their Myer department, is this a good time to maybe get out?
"Coles Myer expects to buy back shares at a discount of at least 5% to the market price"
Do you guys believe this is worth it. They justify it by saying that the after tax return to some shareholders from participating may be greater than the after tax return from selling their shares on the ASX.
I would really appreaciate any comments/feedback.