Second Stirling bidder
NZPA-AAP Melbourne The bidding for control of Unity Corporation’s 51 per cent-owned subsidiary, Stirling Properties, Ltd, has been thrown open with the news that investment group Quatro, Ltd, has made a AustlBsc bid for shares in the company. Quatro’s bid comes hot on the heels of Spotless Services, Ltd’s 150 c offer through its subsidiary, Andossing Pty, Ltd. Quatro announced to the Melbourne Stock Exchange that it had served a Part A take-over statement on Stirling, subject to a 55 per cent minimum
acceptance provision. Mr John Kavanagh, a director of Quatro, said Quatro had looked at Stirling’s type of operations and thought it would fit fairly well with its existing operations. Unity Corp’s chairman, Mr Garry Carter, said the higher bid was fully justified and supported the Stirling board in remaining cautious to the Spotless bid. He said Quatro was one of the groups Unity had held discussions with regarding a bid for Stirling. "I would not be surprised if there was a third bid,” he said.
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Press, 7 May 1987, Page 42
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171Second Stirling bidder Press, 7 May 1987, Page 42
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