Taupo Totara bid well received
(New Zealand Press Association)
TAURANGA, February 19.
The chairman of the Matakana Milling and Export Corporation (Mr H. K. Bunn) said that the board was considering the take-over offer of the Taupo Totara Timber Company, Ltd, and would make its recommendation to shareholders soon.
Mr Bunn said his personal opinion was that the bid should be accepted. “The days of the small timber company are coming to an end, if they have not ended already. Comparatively speaking, Matakana Milling is a small company today, but
it will gain strength from uniting with a mediun\-to-small company,” he said. “The Taupo Totara offer is reasonable. The move should strengthen both companies and Matakana Milling shareholders’ earnings should not diminish. “With the additional strength of the companies, it would be reasonable to expect that the earnings might increase.”
Mr Bunn said that it was envisaged that Matakana’s activities would continue, under the direction of the existing board of directors augmented by two Taupo Totara appointees.
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Bibliographic details
Press, Volume CXI, Issue 32536, 20 February 1971, Page 20
Word Count
167Taupo Totara bid well received Press, Volume CXI, Issue 32536, 20 February 1971, Page 20
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