Rothmans’ court action
PA Wellington Rothmans Industries, Ltd, willl take court proceedings to have Rainbow, Ltd’s offer declared unlawful, Rothmans said in a letter to shareholders) yesterday.
Rainbow had offered 500 c per ordinary Rothmans share and 700 c per preference share in a bid to lift its 18 per cent shareholding to 51 per cent In the letter, a copy of
which was sent to the Stock Exchange, Rothmans said it believed a number of elements of Rainbow’s offer were defective, making it unlawful and incapable of acceptance.
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Press, 22 July 1986, Page 37
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89Rothmans’ court action Press, 22 July 1986, Page 37
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