Daimler Hire Bid for United Service Transport
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TT was revealed this week that Daimler Hire Ltd., a subsidiary of the Hertz Corporation, is the company which is making a bid to acquire United Service Transport Co. Ltd., of Balham, London. A statement said that the offer of 6s. 6d. per stock unit had been unanimously recommended by the directors, and holders of over 46 per cent of the share capital had already agreed to accept.
The statement continued: "United Service Transport Co. Ltd. operates commercial vehicle leasing which the directors of Daimler Hire Ltd. feel will complement their company's present activities.
The offer documents are being dispatched today, Wednesday, March 30, 1966 to the stock holders of United Service Transport Co. Ltd. by N. M. Rothschild and Sons".
It is understood that UST runs approximately 500 vehicles, most of them being on contract types of operation.