Carborundum bid
PA Auckland A sharemarket battle between two unidentified parties for sizeable stakes in Carborundum New Zealand, Ltd, petered out yesterday when one bidder withdrew from the market.
The bidder seeking to buy a 19.9 per cent stake in Carborundum through Jordan Sandman Smythe at 150 c a share withdrew that bid and sold the few shares they had bought to the other bidder.
That bidder, trading
through Hendry Hay Smythe and Horton for an unspecified number of Carborundum shares, yesterday added 385,000 shares to the 280,700 bought on Monday, bringing the stake in Carborundum to 13.3 per cent.
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Press, 8 May 1985, Page 45
Word Count
100Carborundum bid Press, 8 May 1985, Page 45
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