IEL bids
NZPA-AAP Sydney The II largest institutional Investors in North. Broken Hill Holdings, Ltd (NBH) have come out against the partial bid by Industrial Equity, Ltd, (lEL) for 41.3 per cent of the company, NBH*s managing director, Mr Mark Bethwaite said yesterday. He told a press conference that tbe institutions opposed the bid on two grounds — because they consider the sAust2.s4 a share offer inadequate, and because it is a partial bld and not a full take-over. Meanwhile lEL said it would lodge appeals against a New South Wales Supreme Court decision to declare Invalid an lEL requisition for an Australian Gas Light Co, Ltd, (AGL) special general meeting. It would also appeal against Justice Cohen’s decision to reject its claim that five AGL” directors were invalidly elected. Justice Cohen handed down the two decisions yesterday morning, ordering lEL to pay the costs in both actions.-
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Press, 25 January 1986, Page 21
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147IEL bids Press, 25 January 1986, Page 21
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