Email in no hurry to make offer
■ NZPA Adelaide Email, Ltd, plans to bid for the outstanding 50 per cent of Kelvinator Australia, Ltd, but only after it has had time to consider the “full implications of making such an offer.” It is believed that Email will wait at least three ; months to make the bid, and I that the two other major shareholders, Simpson-Pope j Holdings, Ltd and White Consolidated Industries, of the United States, plan not to accept an Email offer. Simpson-Pope, with 14 per cent of Kelvinator and White Consolidated, with 10 per cent, are thought to
»j want to remain minority shareholders. I It is believed that Email r will offer 230 c a share, , which is close to the avers age price paid for Kelvinator e shares during the market j battle. Simpson-Pope, and Email 1 have complied with stock j exchange requests to dis--1 close the price paid by r Email for the 18.6 per cent » of Kelvinator it bought from a Simpson-Pope. It paid f $6.81M for the 2,960,680 t shares. Simpson-Pope also disr closed that its market pur--1 chases cost SII.BM. making ) an average price of 230 c a a share.
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Press, 7 April 1979, Page 19
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199Email in no hurry to make offer Press, 7 April 1979, Page 19
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