Leading lingerie manufacturer and takeover target, Bendon Group Ltd, has been told by electronics and appliance giant Pacific Retail Group Ltd that it plans to proceed with its NZ$1.90 a share takeover bid. "After giving notice of our intention to bid, we have carried out due diligence on Bendon Group. This, together with advice from our adviser, JB Were, has confirmed our view that NZ$1.90 per share is a fair and reasonable price," said Pacific Retail chief executive Peter Halkett.