BRIT. TOB. TAKE-OVER
Move Into Packaging (N.Z. Press Assn.—Copyright) SYDNEY, June 29. British Tobacco Company (Australia), Ltd., appears likely to become the major force in the Australian packaging industry, as a result of an unusual scheme for a "reverse take-over” of Dodge Consolidated Industries, Ltd., by Fibre Containers, Ltd. If the complicated plan announced late yesterday is successful, British Tobacco—which now has a 63.3 per cent Interest in Dodge—will merge with a 52.1 per cent holding in the merged company.
Fibre Containers would take over Dodge by issuing shares for British Tobacco’s holding and offering shares and cash for public holdings.
British Tobacco would at the same time increase its holding in Fibre Containers by a partial offer for publicly owned Fibre shares.
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Press, Volume CVII, Issue 31409, 30 June 1967, Page 14
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123BRIT. TOB. TAKE-OVER Press, Volume CVII, Issue 31409, 30 June 1967, Page 14
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