Dick Smith's retail stores are all empty now, and it's looking like Australia's tech retail market might be about to get even smaller. Reports around the 'net this morning suggest that JB Hi-Fi is in talks to take over competitor The Good Guys, and JB itself has confirmed that it's thinking about it.
— CommSec (@CommSec) May 18, 2016
In an announcement made to the ASX, JB Hi-Fi said it was actively considering the move, although any discussions between the two companies are still "preliminary and exploratory in nature".
JB Hi-Fi confirms that it is in preliminary discussions with The Good Guys in relation to a proposed sale of The Good Guys. At this stage, discussions between JB Hi-Fi and The Good Guys are preliminary and exploratory in nature. JB Hi-Fi has made no decision and nor has it entered into any agreement with respect to the acquisition of The Good Guys. JB Hi-Fi understands that The Good Guys are looking at a range of options including an IPO on the ASX.