A report by independent expert appointed to assess whether Wesfarmers' bid is "fair and reasonable" is still being completed. But Coles said the expert had advised that the new offer was "on an overall basis in the best interests of shareholders". The Wesfarmers WPPS shares will be listed on the Australian stock exchange and pay a fully franked dividend of at least $2 per WPPS. The new shares will provide shareholders with additional Wesfarmers ordinary shares in the event the ordinary share price is less than $45 at their reclassification date four years from the date of issue. Wesfarmers said their original offer valued Coles shares at $17.25 apiece in a July 2 media release.