Centron takes Powercorp
Centron Corporation yesterday announced that it had succeeded in its bid to acquire the outstanding shares in Powercorp Group, Ltd. Its offer is now unconditional. Centron acquired a 68 per cent interest in Powercorp earlier this year and on July 25 it posted an offer of 35c a share for the remainder of the shares. Mr John Patchett, managing director of Centron
Corporation, said the company now held acceptances from Powercorp’s shareholders representing 98 per cent of the shares in the company. He also declared his intention of applying to delist Powercorp from the Stock Exchange. Centron plans to extend the closing date of its offer until October 25, The company will maintain a strong presence in Auckland, Wellington and Christchurch.
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Press, 27 September 1988, Page 29
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124Centron takes Powercorp Press, 27 September 1988, Page 29
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