Good Shares to Buy

Carlyle bid for Coates Hire

{ 3:52 PM, 6/9/2007 } { 0 comments } { Link }

Coates Hire (COA), largest equipment hire company, rejected a revised $6.40 per share takeover bid and 27 cents in franking credits from Carlyle Group and Kerry Stokes's National Hire Group. The $1.7 billion bid 'continues to undervalue the company,' said Coates chairman, Bill Cutbush. However, it is believed Coates' biggest stakeholder, Dale Elphinstone, is keen to sell his 5 percent stake to the consortium. The Tasmanian businessman owns Williams Adams, a distributor of Caterpillar bulldozers, and it seems that he needs cash to start another business. COA shares closed at $5.70.
{ Post a Comment }

{ Last Page } { Page 22 of 45 } { Next Page }

About Me

Friends

LJMatthews2

Good Shares to Buy

Carlyle bid for Coates Hire

About Me

Categories

Recent Entries

Recommended Sites

Friends