T.N.T. surprises with bid for Ansett
(New Zealand Press Association) WELLINGTON, April 7. Thomas Nationwide Transport, Ltd, will make an offer for the 76.5 per cent of the capital of Ansett Transport Industries, Ltd, which it does not own. It acquired 23.5 per cent of the capital for $11.4m last month.
TNT will offer one of its ordinary shares for two Ansett ordinary shares or 110 c cash and one ordinary share for three Ansett shares.
The new shares would rank for dividend from July 1, but be equal in all other respects with the existing ordinary shares of the company. They will not rank for the final dividend intended to be paid in October. lite directors of T.N.T. will convene an extraordinary general meeting of the company on April 24 to obtain consent for the proposed increase in authorised capital to s4om and the issue of shares upon acceptance of the offers.
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Bibliographic details
Press, Volume CXII, Issue 32886, 8 April 1972, Page 21
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153T.N.T. surprises with bid for Ansett Press, Volume CXII, Issue 32886, 8 April 1972, Page 21
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