New bid favoured
H. W. Smith, Ltd, has increased its cash offer on all ordinary shares in A. J. White Ltd, from 110 c to 130 c c.d. after further discussions with the directors of A. J. White.
Under the circumstances, and as H. W. Smith has already acquired in excess of 40 per cent of the shareholding, the directors of A. J. White now recommend
acceptance of this revised offer by all shareholders and also recommend acceptance of the original offer of 105 c made for specified preference shares. The chairman of A. J. White (Dr C. J. J. Morkane) said he was pleased to announce that A. J. White’s have also received a written assurance from H. W. Smith ] that it has no current plans for A. J. White’s that would
result in redundancies, and that the fights of staff will be preserved. Commenting on the new agreement Hj W. Smith’s chairman, (Mr C. L. Smith) said that in view of assurances he had been given as to the Christchurch store’s profitability he could foresee no change in the Chirstchurch operation other than expanding its interest if such opportunities arose.
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Bibliographic details
Press, 22 September 1980, Page 26
Word Count
192New bid favoured Press, 22 September 1980, Page 26
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