Kirkcaldie board holds firm on Brierley bid after ditching lease

Wed, 01 Jun 2016

By Sophie Boot June 1 (BusinessDesk) - Kirkcaldie & Stains' directors reiterated their recommendation that shareholders reject veteran corporate raider Ron Brierley's takeover offer after raising their estimate for the cash that will be returned once lease commitments are exited and the company wound up. Brierley's Mercantile NZ vehicle is the third-largest shareholder in Kirkcaldie, which operated the iconic Wellington department store now being redeveloped as the first New Zealand branch of Australian retailer David Jones. Mercantile NZ...

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