Renouf offer increases
NZPA-AAP i New York Renouf Corp, Ltd, of New Zealand said it has started an increased offer of SUS3I for each unit of partnership interest in Benequity Holdings. In a newspaper advertisement, the company said the offer and withdrawal rights expire on March 13 unless extended. The offer is conditioned on receipt of enough units to give Renouf, with the 1,449,550 already owned by Renouf or under option to it, a majority interest Last week, Renouf reached an agreement with Benequity to either terminate its original offer for Benequity or start a new increased bid at SUS3I a unit by February 20. Renouf had originally offered SUS2B or SUS3O a unit for Benequity in an offer that was to have expired yesterday, with the higher price to be paid if Benequity’s general partner supported the bid.
Benequity’s general partner, EDM Equities Inc, last week approved the higher offer.
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Press, 21 February 1987, Page 24
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151Renouf offer increases Press, 21 February 1987, Page 24
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