Revised offer
Amalgamated Batteries, Ltd. has received a revised notice of take-over from Motor Traders (N.Z.), Ltd, offering 220 c for ordinary, 150 c for 6 per cent participating preference, and 135 c for specified preference shares (same as previous offer.) The offer is conditional on effectively 90 per cent acceptance or a lesser figure at Motor Traders’ option, but not less than 26 per cent (previously it was effectively 90 per cent or any lesser figure).
The directors have already stated they believe the offer is too low, and they will make their recommendation in due course to shareholders as required by the act. Meanwhile they advise shareholders not to sell.
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Bibliographic details
Press, 21 December 1978, Page 18
Word Count
112Revised offer Press, 21 December 1978, Page 18
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