Smiths boss clarifies report

A report in Wellington's Dominion Post quoted Smiths chief executive as denying that recently listed Smiths was in the bidding. But there must have been some confusion because just last week the Smiths directors told shareholders at the annual meeting that they were on the acquisition trail ­ going north.

Hellings clarified the situation with a statement to the Stock Exchange.

He admitted that Smiths was, "in association with another party, in advanced stages of negotiation to purchase the assets of L V Martin & Son."

The Ngauranga Gorge-based company has retail outlets in Lower Hutt, Paraparaumu and in Lambton Quay, is owned by the Martin Family Trust, and former chief executive Neil Martin is a director.

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

CMC - Appointment of Director
General Capital subsidiary General Finance update
AIA - releases long-term blueprint for the future
April 29th Morning Report
RAK - FY25 Performance and Focus; Director Retirement
PEB - Medicare LCD Effective; Pacific Edge Seeks Recoverage
MEL - New CFO and Executive Changes
PFI - Upgraded FY25 Earnings Guidance
April 28th Morning Report
Mercury appoints new Chief Sustainability Officer