Brierley's Mercantile crosses 90% threshold in Wellington Merchants takeover

Thu, 06 Oct 2016

By Sophie Boot Oct. 6 (BusinessDesk) - Ron Brierley's Mercantile NZ has crossed the 90 percent threshold in its takeover bid for Wellington Merchants, formerly known as Kirkcaldie & Stains, triggering provisions to mo-up the remaining shares. As of yesterday, 80.2 percent of the shares in Wellington Merchants had been sold to Mercantile under the takeover offer which, taking its holdings to 91.1 percent, a notice to the stock exchange shows. That means Mercantile can enforce compulsory acquisition of the remaining stock under the Takeove...

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