Takeover bid
Sir,—Rothmans’ endeavour to take over the total shareholding of Baitray, forces out the private investor. Private shareholders are urged not to accept the cash offer. If Baitray shareholders are forced to accept, they will have to find immediate alternative investment in a climate of low interest rates or buy other shares at the market price, which usually gives a low return. With inflation, funds from, exchanging shares for cash, are going from the day of
cashing unless an immediate alternative is found. The cash offer is too low in relation to growth prospects of Baitray. Ninety per cent of the private investors have to agree for the offer to succeed. I urge them not to accept the offer until either a share exchange with Rothmans is negotiated or the cash offer increased. Have the Examiner of Commercial Practices and Baitray directors done private shareholers justice? — Yours, etc., R. F. Y. KENT. March 2, 1984.
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Press, 10 March 1984, Page 16
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156Takeover bid Press, 10 March 1984, Page 16
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