Bid for shares
The announcement by Jarden and Company, the Wellington broker, that it was seeking about 4.5 per cent of the capital of Independent Newspapers, Ltd, brought speculation yesterday that it was Australian interests who were seeking the shares. The offer was for 1.5 million INL shares at 400 c each, compared with the last sale price of 382 c, and one Wellington broker considered it was Australian interests that were doing the buying.
The 1985 INL annual report lists News Corporation, Ltd, run by Mr Rupert Murdoch, as having a 21.2 per cent interest in INL.
As it was, the INL price closed at 10c above the bid price on the sharemarket yesterday, which was interpreted as a “spoiler” move as another Wellington broker stepped up the buying.
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Press, 24 January 1986, Page 12
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130Bid for shares Press, 24 January 1986, Page 12
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