Backing for merger
Solid investor support for the proposed Challenge-Fletcher-Tasman merger pushed the N.Z.U.C. index through the 500-point barrier on a moderate New Zealand sharemarket yesterday. The index gained a fuithei 13.23 points to close at 501.20. The prices offered for the shares in the three companies were competitive, and ■Challenge gained 40c to 380 c, Fletcher 65c to 495 c, and Tasman 45c to 470 c. Other timber companies also benefited from the euphoric market mood—N.Z. Forest Products gaining 22c to 400 e.
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Press, 24 October 1980, Page 17
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84Backing for merger Press, 24 October 1980, Page 17
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