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IH-Seddon offer accepted

31st May 1974, Page 13
31st May 1974
Page 13
Page 13, 31st May 1974 — IH-Seddon offer accepted
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THE CASH offer that Inter national Harvester Company has made for Seddon Diesel Vehicles was approved at a meeting of loan stockholders on Tuesday.

The meeting approved the ClOm bid with 82.53 per cent of loan stockholders in favour and 17.47 against.

Earlier, the offer had been extended to June 13 in the hope that acceptance of the offer would exceed 90 per cent so that advantage could be taken of Section 209 of the Finance Act. However, the cash offer for the Ordinary shares now becomes unconditional as a result of the vote. Preference shareholders have already approved the deal.