NEIL GROUP IN CONTROL
Second Bidder Bought Out (N.Z. Press Association) AUCKLAND, Feb. 25. Neil Holdings, Ltd, the large Auckland building group, confirmed that it has sufficient shares in Turnbull and Jones, Ltd, Wellington electrical engineer, to exercise effective control of the Wellington company. It revealed that it achieved this after buying out the second mystery bidder, who appeared on the scene after the Neil firm made its original bid of 75c a share for 417,600 shares, or 30 per cent of the Turnbull and Jones capital. At that stage, Neil had not yet been identified. The brief statement by Neil Holdings say that the acquisition has been made to enable the Neil group to diversify its activities from its timber, housing and civil engineering interests.
Neil Holdings is a private company, which has grown rapidly in recent years. Its governing director (Mr R. A. Neil) declined to reveal the identity of the opposing bidder who has now been bought out.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19690226.2.170.2
Bibliographic details
Press, Volume CIX, Issue 31923, 26 February 1969, Page 20
Word Count
161NEIL GROUP IN CONTROL Press, Volume CIX, Issue 31923, 26 February 1969, Page 20
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.