TDG bid for Bain and Hodge
Page 27
If you've noticed an error in this article please click here to report it so we can fix it.
I The Transport Development Group Ltd. has made an offer for the £21rn Bain and Hodge haulage and wharfinger group. It was understood on Wednesday that the bid had been accepted by Bain and Hodge's chairman and vice-chairman but that the five other board members were uncommitted or opposed—among them Mr. N. Hodge, who is a large shareholder.
The bid is in the form of a one-for-two share exchange which puts the value of the B and H Ordinary shares at es 9d and the company value at around £1.35m. The offer is conditional upon acceptance by the holders of at least 51 per cent of the shares.
Bain and Hodge has reported a return to profitability in the first half of the 1967-8 financial year, following a loss-making half year when no dividend was paid.