UNION STEAM SHIP COMPANY.

Press, Volume LIII, Issue 15916, 1 June 1917, Page 6

UNION STEAM SHIP COMPANY.

FUSION WITH P. AND 0. TERMS OF THE AGREEMENT. (srECIAI TO "ttte TRESS.") DUNEDIN. May 31. At Inst investors anil speculators who have been interesting themselves in Union Steam Ship Company's shares for some tinie past know the real position of affairs. It was announced today that an agreement had been arrived at between the P. and 0. Com-| pany and the Union Steam Ship Company for a fusion of interests. The arrangement provides for the P. and 0. Company issuing to the shareholders of the Union Company 10s of their deferred stock and paying 80s in cash for each Union Company's ordinary share. At the present market price of the P. and 0. stock this amounts to something over !50s for each Union Company's share, while the return per shnro will be considerably improved. Circulars will be issued at once to the shareholders of the Union Company for reply before tho 12th Juno next, setting out the terms of tho arrangement. (By Cable—Prceo Association—Copyright.) (Australian and 2C.Z. Cable Association.) LONDON, May 30. Tho Union Steam Ship Company's shares rose la. (id on the renewal of the rumours of the absorption of the .'inc. (Received June Ist, 12.55 a.m.") LONDON, May 31. Union Steam Shin Company shares are quoted at ols to o3s ex.