Kirkcaldie directors recommend shareholders reject Brierley takeover offer

Thu, 31 Mar 2016

By Sophie Boot April 1 (BusinessDesk) - Kirkcaldie & Stains' directors have recommended shareholders reject veteran corporate raider Ron Brierley's takeover offer, saying Brierley has offered too little for the shares. Brierley's Mercantile NZ vehicle is the third-largest shareholder in Kirkcaldie, the operator of the iconic Wellington department store that is now closed for redevelopment as the first New Zealand branch of Australian retailer David Jones. Mercantile NZ had a 6 percent stake as of March 24 and has offered $2.75 cash a shar...

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