£4 Million Hotel Takeover
(N.Z. Press Association —Copyright) BRISBANE, December 8 Federal Hotels, Ltd., has made a take-over offer worth nearly £4 million in share and note values for the Lennons group of hotels at Brisbane, Toowoomba and Broadbeach, Queensland. The directors of Lennons Brisbane Hotel, Ltd., and Lennons Toowoomba, Ltd., are recommending the offer. In the case of Lennens Broadbeach, Ltd., directors had already recommended an offer by H. and S. Credits, and the Federal offer is open to shareholders and noteholders for acceptance at their discretion. _ The Federal shares and notes offer for the three hotels totals £3,972,000 in values. Timor Oil.— Timor Oil, Ltd.; reports that Matai No. 1 was spudded on December 4 and drilled to 230 feet. Surface casing is now being run.
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Bibliographic details
Press, Volume XCIX, Issue 29384, 10 December 1960, Page 11
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128£4 Million Hotel Takeover Press, Volume XCIX, Issue 29384, 10 December 1960, Page 11
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