T. NELSON OFFER
Higher Bid Recommended fN.?. Press Association; BLENHEIM, June 3. The directors of Marlborough Transport have recommended to shareholders that the latest offer of Transport Nelson (Holdings) be accepted. The offer is for the majority shareholding in Marlborough Transport, and the 35 private shareholders have been offered the cash equivalent of 45s for the £1 ordinary share.
The original offer by Transport Nelson (Holdings) was the cash equivalent of 37s 6d a share. Meeting The Marlborough Transport directors met this morning. In a statement after the meeting, the directors said that the recommendation to shareholders to accept the latest offer was not unanimous.
No other firm offer had been received, they added. The shareholders have until next Tuesday to accept the offer.
Should the offer be accepted, the directors point out, the Marlborough company will continue to operate under its present name and with the same colours for its fleet of vehicles.
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Bibliographic details
Press, Volume CVI, Issue 31077, 4 June 1966, Page 23
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154T. NELSON OFFER Press, Volume CVI, Issue 31077, 4 June 1966, Page 23
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