BUZZ-Australia's ARB falls after Citi flags competition woes on Super Retail expansion

Citigroup
AltShares Merger Arbitrage ETF

Citigroup

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AltShares Merger Arbitrage ETF

ARB

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** Shares of auto parts provider ARB Corp ARB.AX falls as much as 4.4% to A$18.02, their biggest intraday pct loss since April 20

** Peer Super Retail GroupSUL.AX set plans to increase store portfolio from 790 to over 900 by 2031

** Citi sees competition increasing for ARB due to expansion of Supercheap Auto’s product range

** Shares hit lowest level since June 4

** YTD, ARB down 42%


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