Full-bid order to Brierley’s?
NZPA-AAP Sydney The Brierley group could be forced to make a full takeover bid for Woolworths after the Court decision that it broke the Campanies Code when it took its holding in the retailer to 40 per cent. The National Companies and Securities Commission
will give the New South Wales Supreme Court direction on the fate of the shares involved this week and the chairman, Mr Henry Bosch, has hinted an offer for the shares is one solution. The Court could make a range of orders, many of which had never been tested
in court and he would be "very interested” to see what it could do, Mr Bosch said on Channel 10’s “Business Week.” He agreed the NCSC had recently forced companies to make an offer to all shareholders in similar situations involving change of control without a full bid.
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Press, 12 September 1988, Page 20
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145Full-bid order to Brierley’s? Press, 12 September 1988, Page 20
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