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No: Giltspur
6th December 1980, Page 7
6th December 1980
Page 7
Page 7, 6th December 1980
— No: Giltspur
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GILTSPUR says that it would be harmed under Transport Development Group control, and has urged its shareholders to reject TDG's takeover bid.
Though former Giltspur chairman Maxwell Joseph, who holds 4.3m lop shares in the group, has recommended acceptance, his successor, E. H. Sharp, has told shareholders that the offer is too low, and in any case Giltspur would find it difficult to flourish as part of TDG.
He reports that Giltspur has almost doubled its turnover in the last five years, and pre-tax profits are almost four times and earnings per share five times as large. This, he says, is much better than TDG's record.
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People:
E. H. Sharp, Maxwell Joseph