CORRECT: Dorchester hits 50% minimum for Turners takeover, triggering special 15 cent dividend

Sun, 05 Oct 2014

(Fixes annual share price movement in final graph on story that ran on Friday Oct. 3) By Suze Metherell Oct. 3 (BusinessDesk) - Dorchester Pacific now controls 50 percent of Turners Group NZ, formerly Turners Auctions, triggering the car auction firm to pay shareholders a special 15 cents per share dividend, an incentive to shareholders to accept the offer. The Auckland-based finance company now holds 50.24 percent of Turners, Dorchester said in a statement. The takeover offer gives shareholders either $3 a share in cash, two-year note...

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