Prop. Secs ‘don’t sell’
Property Securities, Ltd, the Wellington property investor, has received a takeover offer.. The directors have issued a “don’t sell” notice after saying they had been advised “by another listed company” that it proposes to make an offer for its shares. The directors said they would advise further when other details were received. The company last year had discussions on a merger with City Realties, but these petered out. Market rumour last night linked jhc take-over with New Zealand United Corporation. NZCU has the same chairman (Mr Frank Renouf) who was instrumental in forming both companies.
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Press, 23 June 1981, Page 19
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99Prop. Secs ‘don’t sell’ Press, 23 June 1981, Page 19
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