H and P board approves
PA Auckland The board of Henderson and Pollard has advised the New Zealand Stock Exchange that it regarded a takeover bid by Carter Holt Holdings, Ltd, as fair and equitable. The directors said the offer of $3.15 per 50c ordinary share would “lead the board to recommend the acceptance by all shareholders.” Carter controls 31.5 per cent of Henderson and Pollard and a key factor in the negotiations must be the 43.8 per cent held in the timber company by Fisher and Paykel Industries, Ltd. Carter are offering $3.15 a share compared with the last sale before the offer of $2.60. H and P manufactures a range of timber products and trades as sawmillers and timber merchants as well. The company owns about 6300 hectares of forest land, mainly in the North Island. Two directors of Carter Holt, Messrs K. F. L. Carter and R. H. A. Carter, are also on the Henderson and Pollard board.
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Press, 24 September 1983, Page 20
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161H and P board approves Press, 24 September 1983, Page 20
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