DAVIDS MAKES BID TO BUY COMPETITOR

SYDNEY, Australia -- Just weeks after completing an initial public stock offering, Davids Ltd. here has made an offer to acquire a competing Australian wholesaler, Independent Holdings Ltd., Adelaide.John David, executive chairman of Davids, said the bid reflects both his company's commitment to the wholesale grocery industry and Davids' intention to expand from the eastern states of Australia to

SYDNEY, Australia -- Just weeks after completing an initial public stock offering, Davids Ltd. here has made an offer to acquire a competing Australian wholesaler, Independent Holdings Ltd., Adelaide.

John David, executive chairman of Davids, said the bid reflects both his company's commitment to the wholesale grocery industry and Davids' intention to expand from the eastern states of Australia to South Australia, which is IHL's core market area. Davids made its offer in mid-July.

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