UPDATE: Cashed-up Kirkcaldie mulls Brierley offer at discount for residual assets

Fri, 26 Feb 2016

(Recasts with Kirkcaldie response) By Jonathan Underhill Feb. 26 (BusinessDesk) - Cashed-up retailer Kirkcaldie & Stains is expected to consider a takeover proposal from veteran corporate raider Ron Brierley at a board meeting next week while noting that the offer price is below its assessment of the residual value of the company. Brierley, who currently has 9.9 percent of Kirkcaldie, gave notice of his intention to acquire the remaining shares for $2.75 apiece via his Mercantile NZ Ltd vehicle. The offer would give shareholders the o...

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