Snag for Feltex
PA Auckland A bid by Feltex New Zealand, Ltd, for all the shares in Australian white-goods manufacturer, Email, Ltd, has run into a hurdle in the Trade Practices Commission. In response to a request from the commission, Feltex has undertaken not to send its Part A statement to shareholders pending further discussions with the commission early this week.
The two-week waiting period required after lodging the statement expired on Fri-
day. Feltex has been discussing aspects of the bid with the commission for several weeks.
The managing director of Feltex, Mr Peter Stanes, said that while the commission was not concerned about the bid for Email, it was worried by the link between the 50 per cent shareholder in Feltex, Equiticorp Holdings, and Fisher and Paykel. Equiticorp acquired a 23 per cent interest in the New Zealand white-goods manufacturer in September.
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Bibliographic details
Press, 10 November 1986, Page 28
Word Count
144Snag for Feltex Press, 10 November 1986, Page 28
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