Cushings edge closer to takeover threshold in Kirkcaldie with 18.48% stake

Thu, 31 May 2012

By Hannah Lynch May 31 (BusinessDesk) - Selwyn and David Cushing have edged closer to the takeover threshold in Kirkcaldie & Stains, the iconic Wellington department store owner whose property assets are worth almost twice the company’s market capitalisation. The Cushing family’s investment arm, H&G Ltd., increased its stake in the company to 18.49 percent from 17.08 percent, according to a substantial security holder notice to the NZX. H&G picked up the 144,000 shares in 15 separate trades this month, underlining the difficulty in acquiring...

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