Borthwick not deterred
[ PA Wellington Thomas Borthwick and Sons (A'Asia) Ltd. still intends to make a formal offer for the Gear Meat Company, Ltd, on receipt of the necessary approvals. “The company is undeterred by the disclosure of share purchases in the Gear Meat Company by Brierley! Investments Ltd,” said Borthwick’s chief executive! (Mr P. T. Norman). “This development was anticipated,” he said.
' Thomas Borthwick intends Ito pursue its present appli- ! cation to the authorities for i approvals to make the bid, 'and it remained confident 'that these would be granted. ! “The benefits of ratioiiialisation and the price [offered to Gear Meat Company shareholders will be a final determinant.
! “We reject news media suggestions that the Brierley share purchases rule out implementation of Borthwicks objectives, which aim to rationalise stock-flows and meat processing in the lower half of the North Island,” said Mr Norman.
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Press, 10 June 1977, Page 14
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144Borthwick not deterred Press, 10 June 1977, Page 14
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