Farmer firms to merge
A merger has been arranged between the Canterbury Farmers’ Co-operative Association, and the North Otago Farmers’ Co-operative Association. The agreement was announced by the C.F.C.A. chairman (Mr R. H. Kerr) and the North Otago chairman (Mr J. H. Mitchell). The merger proposal involves an offer to North Otago shareholders of three C.F.C.A. shares for five North Otago shares. North Otago shareholders with less than 50 shares will be offered 100 c cash and specified preference shareholders will also be offered 100 c cash a share. Mr Mitchell said that the North Otago board of directors had decided unanimously to recommend acceptance of the merger proposals to its shareholders. The company will continue to operate under its. own name, its present board, and existing staff, he said.
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Press, 16 January 1979, Page 15
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130Farmer firms to merge Press, 16 January 1979, Page 15
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