Forum Archive Index - May 2000

[Michael Traill <Mykils@excite.com>]

Paul I got this from Sanfords this morning



St Lukes rallies on takeover prospects
10:28, Wednesday, 31 May 2000

WELLINGTON, May 31 (Reuters) - Shares in New Zealand shopping mall owner St 
Lukes Group Ltd rallied 12 cents or nine percent to NZ$1.45 on Wednesday
after 
brokers said it appeared half-owner Westfield Trust would seek full
ownwership.

St Lukes issued a "don't sell" notice earlier on Wednesday, saying it was in

the final stage of discussions with Westfield, which also manages St Lukes.

ABN Amro head dealer Nigel Scott said it seemed likely Westfield would look
to 
buy out the other shareholders.

"Another takeover -- it's nearly one a week here at the moment," he said.

Scott said a takeover offer, if it eventuated, was likely to release some
value 
for St Lukes shareholders and could spark some revival in the "beleaguered" 
property sector.

Directors of St Lukes said they strongly advised shareholders and
noteholders 
not to sell their securities pending the outcome of the discussions.

A further announcement was expected later on Wednesday.

Westfield shares in Australia were suspended before the market opened
pending 
the release of an unspecified announcement from the company, according to
the 
Australian Stock Exchange.

(c) Reuters Limited 2000
REUTER NEWS SERVICE

On Wed, 31 May 2000 12:18:36 +1300, sharechat@sharechat.co.nz wrote:

>  Does anybody have any idea what is behind the don't sell notice for Saint
>  Lukes this morning and what the discussions with Westfield might be
about?
>  
>  Paul
>  
>  
> 
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