J and H to join Hilton Transport?
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• Ralph Hilton Transport of Charlton is to make an offer for the 120-vehicle fleet of its near neighbour J & H Transport Group, of Deptford, both in south-east London. Directors of both companies agreed a merger in principle at Charlton on Tuesday. The offer to J & H shareholders will be made in writing and is expected to be in their hands before Good Friday.
From the time they receive the offer the shareholders will have three weeks to decide whether or not to accept.
It is understood that Hiltons will be offering four ordinary 10p shares for three
• ordinary 20p shares al& H.
On Tuesday Hilton's shares were standing at 64p; the J & H shares had risen from 60p to 80p on stock exchange dealings on Monday.
If the merger does take place Ralph Hilton Transport will depart from its policy of having all of its vehicles in the same livery. J & H will continue to operate in its dark blue, red and white. Mr H. A. Jeime, chairman and managing director of I & H, will have a seat on the main Hilton board.
It is understood that the Deptford company has a large number of vehicles sub-contracted to Ralph Hilton. Last year its pretax profits were £214,318. Mr R. Hilton told CM that he anticipated that the J & H shareholders would accept ' the offer and it is believed that the Jeune family who hold nearly 50 per cent of the capital have agreed to accept the terms subject to accountants agreeing the profit forecasts of both companies.
"This is one of many acquisitions which we hope to make in the near future" said Ralph Hilton "we are always interested in acquiring companies of this size and calibre."
If the deal goes through the Hilton fleet will top the 1500 mark.