BRIERLEY’S BID
Letter Sent To Chambers fN Z Press Association! WELLINGTON. July 21. A letter from R. A. Briefley Investments to John Chambers and Sons, in respect of Brierley Investments take-over bid for that company, was released today by the New Zealand Stock Exchange Association. In the letter, Brierley Investments sets out details of its offer to buy between 180,000 and 185,000 issued ordinary shares of 20s in the capital of John Chambers at a price of 45s a share. The offer is conditional upon acceptances in respect of at least 180,000 shares. Share Holding The letter says that R. A. Brierley Investments already holds 33,231 ordinary shares in John Chambers. It says that Brierley Investments has urged Chambers’ shareholders not to accept Andrew and Beaven’s takeover offer for the company pointing out that that was for 90 per cent acceptance while the Brierley offer was 40 per cent acceptance. The letter giving notice of the take-over bid as required by section four of the Companies Amendment Act 1963 says the Brierley offer will be made 14 days after July 19.
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Bibliographic details
Press, Volume CIV, Issue 30809, 22 July 1965, Page 20
Word Count
181BRIERLEY’S BID Press, Volume CIV, Issue 30809, 22 July 1965, Page 20
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