Betaville

WELL-DONE ALERT: Reliance Worldwide Corporation said to ... part 2

There has been plenty of coverage about Wesfarmers/Bunnings disastrous acquisition of Homebase over the last couple of days - and how the Aussies tend to mess up major British acquisitions (think back to Slater & Gordon's £673 million purchase of Quindell).

But just as Homebase was being sold to Hilco for a £1 another Australian-listed company was quietly completing an audacious raid on a London-based business - John Guest, the widget manufacturer set up in 1961...