Rainbow back in Rothmans
PA Wellington Rainbow Corporation, Ltd, intends acquiring a further 4 million ordinary shares, or 8.1 per cent, and 4 million preference shares (68.8 per cent) in Rothmans Industries at 405 c and 505 c a share respectively. The company at present holds 6.1 million ordinary and 1.16 million preference shares. The latest offer would add to those shares, which were acquired in February, Rainbow said in a statement today.
Rothmans shares traded before the offer at 390 c. Preference shares were not quoted. The statement said Rainbow would accept either class of share up to a maximum of 4 million. Rainbow has approval from the Commerce Commission to acquire all shares in Rothmans.
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Press, 19 April 1986, Page 22
Word Count
117Rainbow back in Rothmans Press, 19 April 1986, Page 22
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