NEW ZEALAND: Pacific Retail Makes Bid For Bendon
Pacific Retail Group, which revealed earlier this week that it had bought a 15.5 per cent stake in apparel maker Bendon Group from Tower Asset Management, says it intends to offer NZ$1.90 a share for the whole company. The offer values Bendon at NZ$58.7 million. "Our primary intention is to gain operational control of Bendon and grow its value, as we have done with PRG," said Pacific Retail director Phil Newland.
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