GFW stake hits Ranks
NZPA-Reuter London Ranks Hovis McDougall, Pic, shares weakened on rumours that the Australian and New Zealand food firm, Goodman Fielder Wattie, is finding difficulty in selling its 29.9 per cent stake in Ranks. Spokesmen for Samuel Montagu and S. G. Warbury, Goodman’s merchant bankers in London, declined to com-
ment, but industry sources said no cash offers have materialised. Goodman had requested expressions of interest to be lodged by late October. The sources said a deal is unlikely this side of Christmas. Ranks Hovis shares closed at 376 p on Monday (early yesterday, N.Z. time) down 16p on Friday.
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Press, 9 November 1988, Page 39
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103GFW stake hits Ranks Press, 9 November 1988, Page 39
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