Myer Holdings (ASX:MYR) said an independent expert continues to believe that the company's proposed merger with Premier Investments (ASX:PMV) is "fair and reasonable" to non-associated shareholders in the absence of a superior offer, according to a Wednesday filing with the Australian bourse.
The company's directors said they plan to vote in favor of the proposed merger at the extraordinary general meeting on Jan. 23 and advised shareholders to do the same, the filing said.
Shares of the company were down nearly 2% in recent Wednesday trade, while shares of Premier Investments fell past 1%.
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