C.S.R.-Blue Metals Take-over Suit
(N.Z. Press Association—Copyright)
LONDON, January 24. Petitions for leave to appeal in an Australian lawsuit involving a ssom joint takeover by two companies based in Sydney, more than three years ago, have been granted by the Industrial Committee of the Privy Council.
The petition involved a take-over bid in July, 1964, by Blue Metals Industries, Ltd, and the Colonial Sugar Refining Company, Ltd, for Ready Mixed Concrete, Ltd. All three have their headquarters in Sydney. The main question in the case was whether provisions of the Companies Act of New South Wales providing for compulsory acquisition of the shares of dissenting
shareholders where the holder of not less than ninetenths in nominal value of the shares had approved the offer, applied to a joint bid by two companies. The companies sought leave to appeal to the Privy Council against the ruling of three judges in the High Court of Australia that the provisions applied only to an offer made by a single company.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19680125.2.159.11
Bibliographic details
Press, Volume CVIII, Issue 31586, 25 January 1968, Page 14
Word Count
167C.S.R.-Blue Metals Take-over Suit Press, Volume CVIII, Issue 31586, 25 January 1968, Page 14
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.