Order to stop take-over
NZPA-AAP Canberra An order prohibiting the take-over of the Australian transformer manufacturer, Ferguson Transformers Pty, Ltd, by the New Zealandowned Rilusi Pty, Ltd, was being issued, said the Federal Government yesterday. Rilusi Pty, Ltd, is a wholly owned subsidiary of Tolley Holdings, Ltd, which is a diversified manufacturer of electrical components owned 45.1 per cent by Canada Wire International, Ltd. Ferguson Transformers Pty, Ltd, is wholly Australian owned and produces
transformers and related products at its Sydney factory.
The Federal Treasurer, Mr Paul Keating, said the proposal by Tolley Holdings was carefully examined but it could not approve the take-over particularly as a competitive offer had later been made by an Australian interest. Mr Keating said the interests of Australian shareholders in the target company and the views of the New South Wales Government had been taken into account in reaching the decision.
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Press, 14 April 1984, Page 8
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147Order to stop take-over Press, 14 April 1984, Page 8
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