Brierley lifts takeover bid for Kirkcaldie to within board's worst case scenario

Mon, 25 Apr 2016

By Sophie Boot April 26 (BusinessDesk) - Veteran corporate raider Ron Brierley has increased his takeover offer for Kirkcaldie & Stains after his earlier offer was rejected by the former retailer's board. Brierley lifted his offer to $3 a share from the $2.75 he offered in March and extended the closing date by a month to June 12, according to a statement to the NZX. Brierley's Mercantile NZ vehicle is the third-largest shareholder in Kirkcaldie, which operated the iconic Wellington department store that is now closed for redevelopme...

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