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NZPA London Goodman Fielder Wattie might take "some months” to sell its 29.99 per cent stake in former bid target, Ranks Hovis McDougall, a London spokesman predicted. Goodman’s director for the U.K. and Europe, Mr Cliff Lyon, said it was not in the company’s interest to proceed with its search for a buyer “too quickly.” “We are just in the process of encouraging inquiries which will go on for a short while," he said. Mr Lyon’s comments follow
a sharp drop in RHM’s share price — which late last week fell to around 345 p, well below Goodman’s 465 p offer price. On Monday the share price was 3550. Goodman decided earlier this month not to proceed with its £1.7 billion bid for RHM when Britain’s Trade Secretary, Lord Young, referred it to the Monopolies and Mergers Commission for approval. Observers noted then that the Australasians would have to sell the holding for at least 330 p a share to “break even.”
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Press, 14 September 1988, Page 41
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163GFW searching Press, 14 September 1988, Page 41
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