UK-Luxembourg property group EB Private Equity withdraws David Jones bid

EB Private Equity has withdrawn its $1.65 billion bid for David Jones, citing recent publicity around its proposal for scuttling the plan, which was interpreted by some observers as a property play.

David Jones said it had received a letter from EB Private Equity withdrawing its bid on Monday morning.

“The EBPE letter states that recent publicity around its proposal has made it difficult to proceed,” David Jones told the Australian Securities Exchange.

David Jones' share price fell 10% to $2.33 today.