£225,000 Scottish Take-over Bid
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THE £5m. Transport Development Group, Ltd., of London, made a £225,000 take-over bid for Highland Haulage, Ltd., Inverness, last week. Details of the offer are that Transport Development would give 13 of their 5s. Ordinary shares and £1 5s. 5d. cash for every live of the 75,000.il Ordinary shares of Highland Haulage. For each of the 12,200 Preference shares, Transport Development offer one of their 6+ per cent. Preference shares and 2s. 6d. cash. This bid by Transport Development for a Scottish operator follows their recant acquisition of Charles Alexander and Partners, Ltd., of Aberdeen. If the deal is completed the Group will also acquire Sutherland's of Peterhead in which both Highland Haulage and Charles Alexander have at present a 50 per cent. interest. Highland Haulage operate 56 vehicles and in addition to Inverness have depots in Conon Bridge, Edinburgh, Glasgow and Wick. Transport Development already have a fleet of over 1,000 vehicles operating throughout Britain and own 350 tugs and barges, 30 wharves, 100 warehouses and 18 cold stores.