TAKE-OVER BID REPORTED
Forest Product’s Offer To Paper Mills (New Zealand Press Association) AUCKLAND, December 1. Sir David Henry, chairman and managing-director of N.Z. Forest Products, Ltd., tonight declined to comment on reports that his company had made a take-over bid for New Zealand Paper Mills, Ltd. ' .He said the directors of NJZ. Paper Mills were the ones to be approached with the question. .* Press Association message from Dunedin said the director of N.Z. Paper Mills advised shareholders “in view of negotiations that are proceeding” not to dispose of their shares in the meantime.
N.Z. Paper Mills, which has its head office in Dunedin and its paper mill at Mataura, supplies the South Island with brown paper and brown paper bags. The company’s shares rose from 31s 3d last February to 47s 6d in August when the company denied rumours that a “take-over” offer had been made. Last week, buyers were offering 53s 6d for the shares.
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Press, Volume XCVIII, Issue 29067, 2 December 1959, Page 19
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157TAKE-OVER BID REPORTED Press, Volume XCVIII, Issue 29067, 2 December 1959, Page 19
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