New bid by Bond wins brewer
PA Perth The tacit defence by the Swan Brewery Company, Ltd, board to the Perth nessman, Mr Alan Bond’s SI2SM personal bid collapsed after Swan’s white knight failed to show for the joust. •After a meeting of the Swan board here, which lasted more than four hours, Swan’s chairman (Mr Alan Blanckensee) said no firm alternative offer was received and the board had resolved to recommend to shareholders an increased offer from Alan Bond. In a short statement delivered to the Perth Stock Exchange, Mr Blanckensee said
Mr Bond had agreed to increase his offer to $2.70 cash a share from $2.50 cash a share on the same terms and conditions. After the board meeting, called at the request of Bond, who is a director, Swan executives gave no reasons for the board’s switch from intransigence to amicability. The Swan board had previously advised shareholders not to sell until the board had evaluated a report from its financial advisors and merchant bankers, Martin Corporation, Ltd, who were retained to assess the worth of the Bond offer.
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Press, 28 October 1981, Page 27
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182New bid by Bond wins brewer Press, 28 October 1981, Page 27
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