Mogal bid based on “maximising use”
PA Auckland The offer of 60c a share to Brambles Burnett, Ltd. ;shareholders by Mogal Corp. jLtd. is possibly only because Mogal “is able to maximise the use of Brambles’ major .'capital installations,” the chairman of Mogal (Mr P. W. Grayburn) says in a letter accompanying the formal take-over offer. Mogal would be able, in particular, to make full use; of Brambles' freight-forward-ing division. Mogal intended to con-, tinue all Brambles’ trading!
d activities, and employment e. opportunities would continue I, for all staff, if freight-for-Mwarding business was not e eroded by industrial unrest s.in the meantime, Mr Grayrburn says. The offer is for the .16.767.691 ordinary 50c ■ Brambles’ shares to which I Mogal is not already beneficially entitled. It is open i for acceptance until May 20. si The directors of Brambles ■ have described the offer as (“quite inadequate" and a ■istatement giving their reasons will be made.
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Press, 22 April 1980, Page 20
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155Mogal bid based on “maximising use” Press, 22 April 1980, Page 20
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