IEL plans bid
NZPA-AAP Sydney Industrial Equity, Ltd, is to make a takeover offer for the chemical and industrial products company, Cheetham, Ltd, through its 82 per centowned subsidiary, Acmex Holdings, Ltd. Only three days after lifting its stake in Cheetham to about 17 per cent, Acmex announced it will make an unconditional offer for all the issued
capital in Geelong-based Cheetham. The scrip offer of one Acmex share for every two Cheetham shares values the company at about sAustlO9.92M and a fully underwritten cash alternative of sAust34oc a share values the company at sAustlO3.B2M. A spokesman for Cheetham said its board will meet early next week to consider the offer.
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Press, 14 March 1987, Page 24
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111IEL plans bid Press, 14 March 1987, Page 24
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