Market raid on Ansett

Press, 4 December 1979, Page 22

Market raid on Ansett

A News, Ltd, raid on Ansett made many of the remaining small shareholders bail out of the transport company, accepting the 225 c a share offer on Australian stock exchanges yesterday. Brokers acting for News. Ltd, stood in the market all day, picking up the majority of the Ansett shares traded. On a national basis, more than 700,000 Ansett shares changed hands, taking the News, Ltd, stake to around ; 27 per cent of Ansett’s capi-l tai. The tone of the market was still very firm with a I favourable market reaction I being given to attempts by the Australian Government to tighten up money supply growth by increasing the’ statutory reserve deposit of trading banks. Energy stocks continued to be keenly sought, with oil related issues at the top of the buving list. B.H.P. rose 6c to 944 c. Woodside Petroleum rose 4c to 190 c despite some adverse; reaction from Japanese ; power utilities over a fur-! !ther one year delay in opening up the North West Gas Shelf project. 1 Ampol Explofttion rose sc,

to 210 c, and Bridge Oil, which underwent a share reconstruction last week, gained 15c to 205 c. Utah, Howard Smith and Pancontinental were steady. Bullion prices on overseas markets heiped gold miners. Central Norseman rose 40c to 850 c, GMK was up 15c to 302 c, and Emperor was steady at 98c. Tooth’s, the subject of much takeover speculation, finished steady at 200 c on moderate turnover. Sources have suggested that Consolidated Press is acquiring a sizeable portfolio of Tooth’s scrip, and that Tooth’s is considering taking over Mauri Brothers as part of a defence move. The Bank of Adelaide was removed from the list on the approval by the Supreme Court of the A.N.Z. Bank’s scheme of arrangement. The A.N.Z. was firm at 380 c. the Wales bank lost 2c to 278 c, but the National Bank rose 2c to 262 c. Industrials. — Amatil, 217; A.C.L. 228; A.G.C.. 145; Aemil. 93; Ampol, 130; A.N.1., 130: A.N.Z.. 380; A.P.M., 131; A.R.C., 112; Ansett, 225; Advertiser, 182; A. 230; Bundaberg. 620; B. 998; Brambles. 190; Ill; Bank N.S.W.. 278; Boral, 207; Burns P . 250; Carp 1W.8.1, 172; C. 248; C.81C., 242; Courage,

156; Clyde, 202; Comalco, 360; C’maine P.. 300; Coal AU.. 790; Coles (GJ.), 188; C.S.Ii., 440; Containers. 260; C.U.8., 190; Dunlop, :Bi. Elders, 205; E.M.1.. 100; ■Email, 103; Fairfax, 140; Fibre Con., 93; Fiji, 175; Gen. Trust, 153; Hardie Trade, 320; Hooker, 85; Humes. 126; Herald. 375; 1.C.1., 232; Ind. Equity, 280: Jennings. 84; Jones iH.I. 125; Lend Lease, 270; L.N.C., 200; Lite- ' savers, 245; Mayne Nick., 195; McPhersons, 110; M.L.C.. 470; Mauri Bros. 82: Myer, 146; Nylex. 76; N.Z. Forest, 238; Oakbridge, 1285; Olims. 45; Olympics. 72; ; Overseas. 117: Pion. Cone., 190; Pion. Sugar, 240; Protector, 220: Petersville. 129; QBE., 155; ißepco, 116; Rothmans. 240; Sleigh, 103; Smith (H.l, 630: Swan Brew., 152: Thiess. 670; T.N.T.. 185; Tooheys, 186; Tooths. 200; Waltons, 65. Mining.—Aberfoyle, 400: Aust. Dev., 65; Allstate, 45; Ashton. 180; B.H. Sth. 370; Bougainville, 235; Cons. Gid. 554; Cent Norse. 850; C.R.A.. 350; Carr Boyd, 32; Cons. Rutile. 286; Cudgen. 116; Emperor, 100; Gold Mines Kalg , 304: Hamersley, 295; Hill 50 Gold, 35: Kath. Inv., 600; Mid East, 52; Metals Ex., 78: M.1.M., 335; M.K.U., 105; Mt Lyell, 103: North 8.H.. 275: Nth Flinders, 115; Pancont. 1500: Placer Dev., 310: Peko. 660; Project Mining, 140; Poseidon. 170; Qld Mines. 620; Renison. 1480: Robe River, 102; Southland. 26; Tasminex, 55; Utah. 400: Woodsreef. 31; W.M.C., 310; Westralian, 23. Oil.—Ampol Ex., 210: A.0.D., 36: A.0.G.. 115: Beach, .30; Bridge. 205: Hartogen. 225; Magellan. 330; Oil Search, 16; South Pacific 940: Santos. 640: Timor. 9; Vamgas, 260;’Wood J side, 189.