Bid for A. J. White
Sir. — As a small shareholder in A. J. White. Ltd, I would'like to comment on the takeover bid by H. W. Smith, Ltd. I receive a tax-, paid income of 8.25 per cent on. my investment. If I accept the Smith offer my tax-paid income can be . retained or slightly, increased oily by investing- in long'
term debentures. I will not, receive 16 per cent, net as suggested. Although :A. JI White, Ltd, has not .made spectacular progress: over the last two very’ difficult years they have made some progress and paid a reasonable dividend. As trading conditions . improve there should be a marked increase in profits and asset ■ value. The company appears to have a strong financial base on-which to expand and this nd doubt is recognised by H. W. Smith, Ltd. However, in any takeover bid of a profitable going concern, the purchaser should give some compensating: incentive if he wishes to have a good response. Ten per cent on nominal share value is too little. —Yours,-etc.,., J. E. GAUDIN. September 4,1980.
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Press, 6 September 1980, Page 14
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179Bid for A. J. White Press, 6 September 1980, Page 14
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