PHARMACIES MERGER

Evening Post, Volume CXXII, Issue 132, 1 December 1936, Page 12

PHARMACIES MERGER

BOOTS IN AUSTRALIA

The directors of Washington H. Soul, Pattinson, and Company, Limited, have sent the following circular letter ;o shareholders: —

"In reply to statements that have appeared in the Press, your directors desire to inform you that discussions are taking place with other interests concerning the futura of the company, the objects of wfiich may or may not eventuate.

"You may rest assured that your directors will give you due notice immediately they are in a position lo make a further announcement." Notwithstanding this announcement reports of negotiations for amalgamation of this firm with Boots Pure Drug Co Ltd., persisted and the shares of the Washington H. Soul. Pattinson Co. were in very strong demand. These shares were sold at 82s in October, but fell to 72s when it was reported tha, Boots, Ltd.. proposed to begin business in Australia. They recovered slowly to 755, and then, when the rumours reached the market, rose to 76s 6d. Last week they sold up to 91s, closing at 90s 3d, so that in less than a week the rise was more than los a snai>-. The shares have a paid-up value ot £. i eaßoots Pure Drug Company, Ltd., has a capital of £3,000,000, and is a manufipturine as well as a retail company. It conducts more than 1000 shops m London and the provinces and is established in New Zealand, for the pa=,t seven years it has paid slightly more than 30 per cent, per annum on its °rWas ahfngto an eH. Soul, Pattinson, and Company Ltd.. has a paid-up capital nf f^l's 000 It is also a manufacturpe ThenchSrman of directors of Washington H Soul, Pattinson, and Commgton n. ouu , p a ttinson). when amalgamation.