Brierley faces battle
Sir Ron Brierley’s Industrial Equity (Pacific) will have a tough battle to win institutional support for its £56.3 million (SNZIS9.SM) bid for the British cigarette machinery maker, Moiins. Seven institutions, controlling about 50% of Molins’s register, have indicated they will reject the £1.90 a share offer. Moiins shares rose 12p to £2.09 on Tuesday following the ■release of its defence document which forecast pre-tax profits for the current year of £I3M (SNZ36.BM), more than double the previous year’s £6M.
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Press, 28 July 1989, Page 14
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82Brierley faces battle Press, 28 July 1989, Page 14
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