Mair change approved
PA Wellington The Commerce Commission has consented to the merger of Mair and Company, Ltd, of Christchurch, with Astley Holdings, of Auckland. The new firm, called Mair Astley, Ltd, will be based in Christchurch. The takeover, which offers Mair shares to Astley shareholders, was declared unconditional as from Monday. An extraordinary general meeting of Mair and Company will be held about the end of August to change the name. Share scrip in the new name will be issued to the Astley shareholders
shortly afterwards. The companies said that 89 per cent of the shareholders holding 96 per cent of the shares in Colyer Watson Holdings, Ltd, outstanding in public hands had accepted the Mair offer made to them. (Colyer Watson is being incorporated in the new group.) To help the investment market to analyse the new group, it is intended to print in Mair Astley’s annual report in November a consolidated balance sheet of the results of the three component companies for the financial years or periods nearest to June 30, 1985.
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Press, 7 August 1985, Page 33
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175Mair change approved Press, 7 August 1985, Page 33
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