Pioneer Bid Revised
Pioneer Concrete Services Ltd, has revised the terms of its proposed takeover offer for Consolidated Quarries. Ltd, Melbourne quarrying, asphalt and concrete group. Pioneer agreed last May to purchase a 28 per cent interest in Consolidated by buying the shareholding of the chairman (Mr A. K. Bowen). A similar offer was to be extended to other Consolidated shareholders.
Mr Bowen advised stock exchanges that he had accepted 150 c cash and 150 c worth of five year, 8 per cent notes for each of his shares in Consolidated. Under the original terms Mr Bowen was to receive $lOO cash, $lO in five-year notes and 60 Pioneer shares for every 100 Consolidated shares. At the time of making the original offer, Pioneer's bid was worth 290 c a share.
F. Waimak To Pay 4 p.c. Farrier Waimak, Ltd, Christchurch contractor, is to pay an ordinary dividend of 4 per cent this year, the directors recommend, and thus returns to the dividend list after two years in which the dividend was passed.
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Bibliographic details
Press, Volume CX, Issue 32391, 2 September 1970, Page 22
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173Pioneer Bid Revised Press, Volume CX, Issue 32391, 2 September 1970, Page 22
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