Question On Takeover
(N Z. Press Association)
WELLINGTON, May 22.
The Minister of Finance (Mr Muldoon) today refused in Parliament to disclose whether the American tyre company, B. F. Goodrich, Ltd, had made an application for approval to make a takeover bid for Reidrubber, Ltd. He had been asked by the Opposition finance spokesman, Mr R. J.Tizard (Pakuranga) if approval had been sought, and what his decision h’G been. Mr Muldoon replied that this information could not be made available publicly. “I cannot give advance information of possible takeover bids or approaches to the Government This is the! policy we have followed since 1 the regulations were intro- i duced,” he said. “There are cases where this information would cause no disadvantage, but there are other cases where to divulge this information would not jonly be embarrassing but also [possibly damaging to both companies involved,” Mr Muldoon said.
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Bibliographic details
Press, Volume CIX, Issue 32304, 23 May 1970, Page 12
Word Count
148Question On Takeover Press, Volume CIX, Issue 32304, 23 May 1970, Page 12
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