Alan Bond hits back
NZPA-AAP Henn Alan Bond has angrily dismissed a call for Bond Corp Holdings to provide assurances about its solvency as part of the group’s sAust2o4 million (SNZ267M) bid for a large minority holding in its The Bell Group subsidiary. “You have our offer,” Mr Bond told the State Government Insurance Commission of Western Australia (SGIC). It is up to you to accept it or reject it, as you see fit,” the Bond Corp chairman said.
The SGIC had earlier said Bond Corp’s 318 c a share deferred payment offer for the commission’s 19.67 per cent, or 64.16 million shares, in Bell did not comply with the terms of a tender for the sale of the stake.
While it also questioned the true value of the offer, the SGIC stopped short of rejecting the bid, which was lodged shortly before the expiry of the tender for the holding on Wednesday. Instead, it sought an assurance that Bond Corp could meet its obligations under the bid, saying the offer did “not provide any evidence” the group could fund the bid.
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Press, 21 October 1989, Page 37
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182Alan Bond hits back Press, 21 October 1989, Page 37
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