Forum Archive Index - March 2001

["Ben Dutton" <bendutton@sharechat.co.nz>]

The takeover battle is about to get interesting.  Here's the latest from
Bloomberg.com:


Shell Increases Offer for Fletcher Energy, Board Recommends

Auckland, March 1 (Bloomberg) -- Royal Dutch/Shell Group increased the value
of its takeover offer for the energy division of Fletcher Challenge Ltd.,
the New Zealand-based company said.

Fletcher Challenge said its board recommends that shareholders accept the
new Shell bid, which includes a cash component of $3.55 a share. That's 6.2
percent more than the $3.34 it first offered.

Shareholders will be asked to vote on the proposal at an already scheduled
March 6 meeting, the company said.

Fletcher Challenge said the recommendation takes into account that
shareholders would be paid in March.

A rival group this week said they proposed making a cash and share offer for
the energy group, with a cash component of $3.70 a share. The rival group
includes Guinness Peat Group Plc and other investors.



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