Australian Wesfarmers’ UK retail chain acquisition falls below expectations

A shopper selects wood products at a Wesfarmers Ltd. Bunnings Warehouse store in Sydney, Australia, on Thursday, July 28, 2011. Photographer: Ian Waldie/Bloomberg

Wesfarmers Ltd.’s attempt to replicate its dominance of Australia’s home improvement market in the U.K. has flopped, with the company announcing a more than A$1 billion ($791 million) charge on its two-year-old acquisition of the Homebase chain.

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