Brierley makes new offer for Kirkcaldie assets at 7% premium

Jonathan Underhill
Thu, 11 Aug 2016

By Jonathan Underhill Aug. 11 (BusinessDesk) - Ron Brierley's Mercantile NZ has given notice of a new offer for the cashed-up former retailer Kirkcaldie & Stains, amounting to a 7 percent premium on its last traded price but still below the wash-up value of the business. Mercantile, the third-largest shareholder in the company now called Wellington Merchants, would offer $3.45 per share cash for the remainder. Merchants stock last traded at $3.22. Brierley's approaches have so far been spurned by the directors of Merchants. Mercantile...

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