Bid to buy Woolworths
L. D. Nathan and Company, Ltd, an Auckland general merchant with hotel, brewery, and soft-drink interests, will make a bid to take over Woolworths New Zealand, Ltd. for about §12.6)1. Although Woolworths is a household name, and a big concern, this is not a case of a sprat trying to catch a mackerel—Nathan's is about twice the size of Woolworths. The net worth of the Nathan group is about §2BM, and Woolworths about §ISM. The latest profit of Nathan's was §2.BM for the year to July 31, 1977. Woolworths recently announced its highest profit: almost S2M lor the year ended September 27. Its previous profit was SI.2M. Details, page 18.
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Press, 4 November 1978, Page 1
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114Bid to buy Woolworths Press, 4 November 1978, Page 1
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