AT THE HEART OF THE ROAD TRANSPORT INDUSTRY.

Call our Sales Team on 0208 912 2120

Atkinson/ERF battle continues

31st July 1970, Page 39
31st July 1970
Page 39
Page 39, 31st July 1970 — Atkinson/ERF battle continues
Close
Noticed an error?
If you've noticed an error in this article please click here to report it so we can fix it.

Which of the following most accurately describes the problem?

• Shareholders in Atkinson Lorries (Holdings) Ltd. last week received a detailed document setting out the reasons why their board of directors advised them to reject the takeover offer made last month by ERF (Holdings) Ltd.

The main reasons given are: "The profits before tax for the year ending March 31, 1971 are estimated at £.750,000. On this basis ERF are attempting to acquire Atkinson on an estimated price earnings ratio of only 7.2 times".

And: "The income of ordinary shareholders would be reduced by approximately 18 per cent and that of the preference shareholders by over 47 per cent."