AUST. CHEMICAL TAKE-OVER
£2m Bid For Die Casters (N-Z.PA.-Reuter— Copyright) MELBOURNE, Sept 19. Australian Chemical Holdings, Ltd., has made a takeover bid for Die Casters. Ltd., and has offered the equivalent of more than £2,000,000 on current market prices for all Die Casters ordinary and preference capital and convertible notes. Directors- of Die Casters announced the bid last bight, and also reported a 56 per cent, drop in group profit from £117.776 to £51,477 for the year to June 30. This caused earning rate on ordinary capital to fall from 16.2 to 7.9 per cent.— not quite covering the ordinary dividend which is being maintained at 8 per cent. Terms of the offer from Australian Chemicals are:
Three 10s ordinary shares for every ten Die Casters 5s ordinary shares or convertible note. Seven 10s ordinary shares for every ten £AI 7 per cent, cumulative preference shares, or 22s cash a share.
Directors of Die Casters recommend acceptance of the offer.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19610920.2.215
Bibliographic details
Press, Volume C, Issue 29623, 20 September 1961, Page 19
Word Count
160AUST. CHEMICAL TAKE-OVER Press, Volume C, Issue 29623, 20 September 1961, Page 19
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