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[sharechat] Brierley SKyrocketed admist Takeover rumours

From:	"Benjamin lam" <benlam@xtra.co.nz>
Date:	Thu, 31 Jan 2002 14:20:59 +1300

Shares of Brierley(BRY)accumulated an astonishing 20% growth to a three month high of 40cents. The reason for this hike is due to rumours in Singapore that Brierley might mount a hostile takeover towards Fraser & Neave, a profitable beverage producer which Brierley already owned 11%. The company. which produces chinese style soft drinks (i.e. sugar cane juice), is expecting strong sales in the coming Chinese new year season.

Brierley's shares in Singapore upped 17% after the exposure of the news. But there are concerns that Brierley, whose liquid assets are heavily bounded by the Thistle Hotels Group, may not have enough cash to complete the deal.

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