Questar terms given thumbs up
PA Wellington The terms of a bid by Questar Corp shares in Hobson Group as part of a three-way merger between the pair and Argus Corp have been given the thumbs up by an independent adviser.
Hobson told the Stock Exchange yesterday that the adviser had found the bid fair and reasonable towards Hobson shareholders and a "don’t sell” notice issued to them on August 11 had now been lifted. Hobson said its board recommended shareholders accept the Questar offer, which is for all the shares in Hobson not already owned by Argus. The merger also involves an offer by Questar for the shares in Argus which it does not already own.
Hobson said that because all its directors were also executives of Argus — Hobson’s largest shareholder — they had sought the advice of an independent party on the offer.
It said that formal notice of the directors’ recommendation would be mailed to shareholders tomorrow,
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Press, 16 September 1987, Page 35
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159Questar terms given thumbs up Press, 16 September 1987, Page 35
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