NEW ZEALAND: Bendon Favours Pacific Retail Offer
Directors of lingerie and swimwear manufacturer Bendon Group Ltd today urged shareholders to accept a NZ$1.90 a share takeover offer from Pacific Retail Group. In a statement, Bendon's directors recommended the Pacific Retail offer - which values the firm at nearly NZ$60m - ahead of an offer from consortium Intimate Brands Ltd (IBL), which involves Bendon's MD Hugo Venter.
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