Ceramco offer
PA Wellington Directors of McAlpine Industries, Ltd, said they would consider the take-over offer from Ceramco, Ltd, made on Thursday and make a recommendation to shareholders. Ceramco said that having acquired the shares previously held by Rangatira, Ltd, it now holds 50.05 per cent of the issued capital of McAlpine and Ceramco Investments, Ltd, would offer 205 c a share in cash for the rest of the issued capital. The other major McAlpine
shareholder is Australian appliance manufacturer, Email, Ltd, with 13.3 per cent of the capital. Ceramco's managing director, Mr Charles Bidwill, said the McAlpine home appliance operations would fit well with Ceramco’s operations. It was proposed McAlpine would continue with present management. No drastic changes were envisaged. In the six months ended January 31, McAlpine’s unaudited tax-paid trading profit rose 45.2 per cent to $674,000.
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Press, 30 August 1986, Page 23
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139Ceramco offer Press, 30 August 1986, Page 23
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