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FORD BUYING BRIGGS SHARES

3rd April 1953, Page 31
3rd April 1953
Page 31
Page 31, 3rd April 1953 — FORD BUYING BRIGGS SHARES
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THE Ford Motor Co., Ltd., have agreed to acquire from the Briggs Manufacturing Co. and other American interests 1,243,938 ordinary shares in Briggs Motor Bodies, Ltd. This represents about 62 per cent, of the issued capital of Briggs Motor Bodies, Ltd., which announced a 121 per cent. dividend this week. A sum of P.21 is being paid for each share. Treasury consent has been obtained.

Subject to the consent of the Capital Issues Committee, Ford will offer to acquire the 756,062 remaining shares in Briggs, in terms of two fully paid new

'ordinary shares in the Ford concern, plus 5s. ill cash for each .f.1 ordinary share in Briggs.