Australia's Lempriere pours cold water on selling WSI scouring assets in formal takeover bid

Mon, 29 Oct 2012

By Paul McBeth Oct. 30 (BusinessDesk) - Australian wool merchant Lempriere has ruled out selling New Zealand Wool Services International's scouring assets, according to its formal takeover document. The Melbourne-based company has locked up 75 percent of WSI's shares having bought control when it acquired the majority stake owned by Allan Hubbard-related companies Woolpak Holdings and Plum Duff and entered into lock-up agreements with some of the firm's executives. Lempriere is making a full takeover bid at 45 cents a share, valuing WSI a...

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