Directors of Wellington Merchants, formerly Kirks, recommend latest Brierley offer

Fri, 09 Sep 2016

By Sophie Boot Sept. 9 (BusinessDesk) - The directors of Wellington Merchants, formerly known as Kirkcaldie & Stains, have recommended its shareholders accept Ron Brierley's latest takeover offer, with the two largest shareholders indicating they will do so. Brierley's Mercantile NZ has offered $3.45 per share, an uplift from his previous offers of $2.75 and $3 made in March and June respectively. Kirkcaldies changed its name to Wellington Merchants in July. The company's high and low scenarios for the shares anticipate a distribution...

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