Briefs

Press, 14 October 1985, Page 35

Briefs

Bid for Gow

Nicholas Kiwi Australasia, Ltd, the Australian remnant of the international operations of Nicholas Kiwi Ltd, is to offer 330 c a share for all of the issued capital of a food and detergent group, R. M. Gow and Company, Ltd. The bid, which values Gow at ?14.74M, is NKA’s first move to expand its base since its formation from the Australian operations of Nicholas Kiwi, Ltd, late last year.

N.Z. Manager

A New Zealander has been appointed general manager of Burroughs, Ltd, in New Zealand. Mr Brian Clark is returning after two years as a senior marketing manager with Burroughs’ headquarters staff in Detroit While there he was responsible for-the AmericasPacific region, which includes this country. Before his Detroit assignment, he was the marketing director for Burroughs, New Zealand, and had been with the company for 10 years.

Hooker sells

Hooker Corporation has sold its 7 per cent holding in James Hardie Industries, removing the incentive for Hardie to launch a bid for Hooker. Hardie was believed to be on the verge of a take-over attempt following its announcement that it had built a 19.7 per cent stake in Hooker. Market sources said Hardie built its stake in Hooker as a defensive move against a possible Hooker bid for Hardie.

Stevens move Stevens KMS Corporation, Ltd, has given formal notification of its take-over of all shares in Stevens Corporation, Ltd. Under the terms of the offer, Stevens KMS will give two of its new shares or 280 c cash for every Stevens ordinary share. One new Stevens KMS share, or 70c, will be given for every two Stevens preference shares. The books close on October 21 to determine entitlements.