A.G.C. REJECTS OFFER
Terms Of £22.4m Bid Revealed Directors of Australian Guarantee Corporation, Ltd., have revealed and rejected the terms of a take-over offer, worth £22 4m, received late on December 29 from Associated Securities, Ltd. The terms, based on an offer worth 18s for each A.G.C. 5s ordinary stock unit, were not considered to have sufficient merit, directors stated. They were not prepared to recommend the offer and would object to a direct approach to stockholders. Associated Securities offered three 5s ordinary shares apd 18s cash for each four AiG.C. 5s units. , 'Directors of Associated Securities based their offer on a market value of 18s for their company’s shares.
Thiess Gets £l9m Snowy Contracts (N.Z. Press Assn.—Copyright) SYDNEY, Jan. 5. The Queensland firm of Thiess Bros, has gained two contracts totalling £lB 923,000 for work on the Snowy scheme, the Minister for National Development 'Senator Spooner) said last night. The contracts are for the construction of the Geehi dam and six miles of tunnel and the seven-mile Murray 1 pressure tunnel. Senator Spooner said that 17 tenders were submitted by seven contracting organisations from Australia, France. Italy, Britain, Canada and the United States.
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Press, Volume CI, Issue 29714, 6 January 1962, Page 16
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194A.G.C. REJECTS OFFER Press, Volume CI, Issue 29714, 6 January 1962, Page 16
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