CASH OFFER RAISED
New Bid For P. Forests
(N.Z. Press Association)
AUCKLAND, Nov. 26.
Ellis and Burnand, Ltd., Hamilton sawmilling group, today raised its cash bid for Pacific Forests, Ltd., Auckland from £707,780 to £790,508. The bid is 21s 6d a share, compared with the earlier bid of 19s 3d. The latest offer is a counter move against yesterday’s bid of 21s a share, total £772,124 in shares and cash, by Taupo Totara Timber Company, Ltd., Putaruru.
Taupo Totara started the bidding at £671,012. Pacific Forests directors said today that they had no further recommendation to make “at this stage pending further developments.” Yesterday they recommended acceptance of the Taupo Totara offer.
Henry Berry.— Henry Berry Interim ordinary dividend Is a steady 5 per cent payable on January 31, ex dividend January 10. Accounts for the six months show trading better than that for the same half of last year.—(P.A.)
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Bibliographic details
Press, Volume CIV, Issue 30919, 27 November 1965, Page 22
Word Count
150CASH OFFER RAISED Press, Volume CIV, Issue 30919, 27 November 1965, Page 22
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