Where next for Woolworths?

SYDNEY —In the wake of continued disappointing results from Woolworths and a string of high-profile resignations, speculation is mounting about who might acquire the joint venture should it go on the market. Yesterday’s Sydney Morning Herald declared Wal-Mart “[o]ur bid for most likely bidder,” noting that private equity purchasers would “struggle” to raise the capital to cover the company’s value. The two companies already have some overlap at the highest levels:  former Woolworths CEO Roger Corbett sits on Wal-Mart’s board while Wal-Mart U.S. CEO Greg Foran is also a Woolies alumnus.