TAKE-OVER OFFER ACCEPTED
Bid For United Finance, Dunedin
(New Zealand Press Association) DUNEDIN, August 25.
The bid by United Dominions Trust, Ltd,, of London, to take over the United Finance Corporation, Ltd., of Dunedin, has been successful. More than 90 per cent, of the United Finance Corporation shareholding has accepted the London company's offer as recommended by the directors earlier in the month.
The London company offered 37s 6d for the 24,850 preference shares (about £46,696) and 47s 6d for the 24.000 ordinary shares '£57.000). The total offer was about £103.696. At the time of the offer the U.F.C. directors described it as a generous one. The company will continue under its present name with the same board of directors and staff. At present, United Dominions Trust, Ltd., in New Zealand comprises United Dominions Corporation (South Pacific), Ltd., at Wellington, Auckland and Christcnurch, with subsidiaries, and the Traders’ Finance Corporation. Ltd., at Auckland. Its over-all business is £1,600,000 and the Purchase of the Dunedin company will increase it by about £ 130.000.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19590826.2.144
Bibliographic details
Press, Volume XCVIII, Issue 28983, 26 August 1959, Page 15
Word Count
171TAKE-OVER OFFER ACCEPTED Press, Volume XCVIII, Issue 28983, 26 August 1959, Page 15
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.
Log in