Bid for CPD
An Auckland sharebroker, Buttle Wilson and Co., is standing in the market for Cable Price Downer shares for an unidentified buyer. The offer is 415 c for each ordinary share and for each 15 per cent specified preference share. Ordinaries rose 20c to close at 422 at the end of trading today while prefs were 15c higher at 535. Mr Denver Olde. senior partneer of Buttle Wilson, said there had been other buyers in the market, through Welling-ton-based brokers, Francis Allison Symes and Company, which at one stage paid 425 before pulling out. In the afternoon, another Auckland broker, Hendry Hay Smythe and Horton, picked up CPD shares at 422. “We also bought at that level,” Mr Olde said. He would not comment further.
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Press, 3 August 1985, Page 23
Word Count
127Bid for CPD Press, 3 August 1985, Page 23
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