Tekau Receives Formal Bid
I <N Z. Press Association) TIMARU, Sept. 21. ; Shareholders of Tekau Knitiwear. Ltd, yesterday received ‘the formal offer by Waitaki Farmers’ Freezing Company. Ltd, of seven ordinary 50c jshares in Waitaki for five fully paid ordinary 200 c shares in ‘Tekau, plus 65c a share. The offer, which is open until October 20, is conditional on acceptance of not less than 360,000 of the 400,000 Tekau shares or a lesser number as Waitaki may decide. In a statement to shareholders the directors of Tekau say they consider the offer to be fair and reasonable, and that they have no hesitation in recommending its acceptance.
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Press, Volume CIX, Issue 32099, 22 September 1969, Page 18
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108Tekau Receives Formal Bid Press, Volume CIX, Issue 32099, 22 September 1969, Page 18
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