Bid received by Mannings

Press, Volume CXI, Issue 32553, 12 March 1971, Page 16

Bid received by Mannings

Mannings (N.Z.), Ltd, the Hamilton manufacturer of veterinary products, had received an offer from Merck, Sharp and Dohme (New Zealand), Ltd, to buy all its shares at 575 c a share in cash, the directors of Mannings announced yesterday. They said they intended to recommend this offer to shareholders for acceptance. Mannings shares have been selling about 480 c lately, and before the first announcement of merger talks, in January, sold at 410 c.

Merck, Sharp and Dohme is one of the largest United States ethical drugs manufacturers.

Shares reinstated The Sydney Stock Exchange announced yesterday that eight companies of the Mineral Securities Australia, Ltd, group would be listed [again on Monday. They are 'Aberfoyle, Ltd, Amad, N.L., Ardlethan Tin, N.L., Cleveland Tin, N.L., Gold Plateau, IN.L., Oil Investments, Ltd, the Paringa Mining and Ex- | ploration Company, Ltd, and Pexa Oil, N.L.

Vibrapac allotment

Vibrapac Blocks, Ltd had alloted 20,000 fully-paid shares in part settlement for the acquisition of certain assets, the directors announced yesterday. Employee shares Lend Lease Corporation has alloted to a trustee on behalf of 127 employees of the group (including executive directors) 885,000 shares. These shares are nontransferable for a period of ten years, and should employment cease (other than because of death, serious illness or retrenchment) the shares would revert to the trustee. During this period of , non-transferability the shares will not be listed on the stock exchange.