ESSO TO BUY CLEVELAND?
9th July 1954, Page 30
9th July 1954
Page 30
Page 30, 9th July 1954
— ESSO TO BUY CLEVELAND?
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AN offer to buy the remaining shares of the Cleveland Petroleum Co., Ltd., has been announced by the Esso Petroleum Co., Ltd., who already hold more than 50 per cent. of the ordinary and deferred stock.
The offer is conditional on acceptance by July 31 by owners of not less than 90 per cent. of each class of share not held by the Esso concern, or a smaller percentage at the option of the bidders. The Cleveland directors are recommending acceptance. Two of them are managing directors of Esso.
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