Simpson and Williams bid unconditional
The take-over bid by an undisclosed bidder * for Simpson and Williams. Ltd, was declared unconditional yesterday. The company is changing its name to S.W. Investments, Ltd.
The announcement was the first information received from the company since the bid was announced on November
28. and the Stock Exchange Association of New Zealand yesterday strongly requested the company for further information.
After this request the bid price was disclosed, which is 190 c cash a share, but neither the name of the offeror nor further details were given.
But last night the chairman (Mr E. A. Cleland) told “The Press” that the offeror was Liquid Components (N.Z.), Ltd. of Auckland.
The company is believed to be associated with Commercial Securities and Finance. Ltd, and one of the directors of this company, Mr M. D. Johnson, negotiated on behalf of Liquid Components. Simpson and Williams, Ltd, disposed of its business last year, and the shares at present are believed to be backed solely by liquid assets.
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Bibliographic details
Press, Volume CXIV, Issue 33442, 25 January 1974, Page 24
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169Simpson and Williams bid unconditional Press, Volume CXIV, Issue 33442, 25 January 1974, Page 24
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