Kirkcaldie's board ups ante in fight with Brierley over department store's remains

Wed, 27 Apr 2016

By Edwin Mitson April 27 (BusinessDesk) - Kirkcaldie & Stains' board has emphasised the prospect of an increased payout to shareholders as it urges them to reject an increased bid for the department store's remains by veteran corporate raider Ron Brierley. Brierley raised his offer to $3.00 a share yesterday, one cent above the liquidation value of the shares under the board's low scenario. The board had initially set out a range of values for the money to be returned from liquidation, from its low scenario of $2.99 to a high scenario of...

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