Oct 2015 Financial News

BHL tells shareholders to hold on

Oct 22, 2015

BANKS HOLDINGS Limited (BHL) shareholders have been told not to commit to offers from AmBev or ANSA McAL just yet.

As ANSA McAL, a Trinidad-based company with TT$11.3 billion in assets battles international beer giant AmBev for control of BHL, the board of directors advised that there were likely to be counter offers.

In a notice issued by the BHL board today, it was noted: “Shareholders are advised that there is now a competitive bidding environment for the company’s shares. Shareholders should therefore be alert to the possibility of the offerors making revisions to their bids."

According to the directors unless AmBev’s subsidiary, SLU Beverages Ltd amends its current offer, it will close on Monday at 3 p.m.

In this connection, they cautioned shareholders who had already committed their shares to SLU, they had the right to withdraw those shares two business days prior to the termination of the SLU offer.

Moreover, the board said it would be issuing a response to the ANSA McAL offer through a directors’ circular to be issued before November 13. (GE)

Source:
GERALYN EDWARD, geralynedward@nationnews.com
Nation News
Thursday October 22, 2015

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