B. and H. decision
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A statement was expected this week from the board of Bain and Hodge Ltd., the 700-vehicle hauliers, on the £1 .2m take-over bid made last week by British Oxygen Co. Ltd. The bid was in the form of an 8s-a-share cash offer. Before the bid, B. and H. shares stood at 6s 9d, but had risen to 7s 3d by the middle of this week.
In June, divisions in the Bain and Hodge board led to rejection of a Transport Development Group offer which valued the shares at around 6s 10d, BOC is diversifying, but in areas where it has technical and commercial expertise. A spokesman toldCM this week that it did not intend at the moment to move into the general haulage field by making other such offers, but B. and H. and BOC had many customers in common. Also, the BOC 1.500vehicle fleet was run by an organization which could readily deal with the B. and H. vehicles— though BOC would, if successful. keep the Bain vehicles on their current work.