Bid for ‘Age’

Press, 27 May 1985, Page 26

Bid for ‘Age’

John Fairfax and Sons is to extend its $10.20 a share takeover bid for the Melbourne “Age” publisher, David Syme and Company until the end of next month. Fairfax dismissed the higher counter bid by Robert Homes aCourt. Fairfax directors said the Sydneybased group now held 97.96 per cent of David Syme and had no intention of selling any of these shares or lifting the offer price. Ford issue Ford Motor Credit Company of New Zealand, Ltd, has opened the fifth public issue prospectus of registered secured debenture stock. The prospectus, registered on May 22, seeks ?8 million, and extends to November 21. The rates offered for $2OO to $lOO,OOO are: Call after three months, 19.5 per cent a year, one year, 19.5; two years, 19.5; three years, 19.5; four years, 17.25; five years, 17.25. Regional heads The Rural Bank has appointed three regional managers as part of moves toward a regional administrative system. The general manager, Mr Ray Chappell, said the appointments followed the severing in April of administrative links with the Housing Corporation. The managers are Messrs K. J. Keelty, Christchurch; I. J. Plunkett, Auckland; and A. R. Mudford, Hamilton.