Jul 2007 Financial News

Consortium's bid offer coming soon

Jul 06, 2007

THE LOCAL CONSORTIUM led by real estate developers Colin Brewer and Tony Hoyos promiseto make good on their offer to Barbados Shipping & Trading (BS&T) shareholders "within a few days".

In a Press release issued from their Island Properties Ltd. offices Wednesday, the two promised to "successfully" bid their previously announced $7.50 offer on the Barbados Stock Exchange soon.

The investors said their initial bid for a million shares at 7.50 each (50 cents over the ANSA McAL bid of $7 per share) would be open to any shareholder willing to sell, "especially the Neal & Massy group".

Hoyos and Brewer said if their initial bid for a million shares was successful, they would then bid for another million shares at the same $7.50, and continue this way until they amassed a significant share interest in BS&T in order to form an effective voting bloc that could oppose both the Neal & Massy merger and the ANSA McAL takeover offer at the next shareholders' meeting in August. (CH/PR)


Source:
Nation News Barbados
Friday 6th July, 2007

http://www.nationnews.com/story/294702147475637.php