Propertyfinance stand nets 8% of CBS ahead of Weds close

PFG said in a stock exchange notice that it had received acceptances for 8% of CBS, or 525,300 shares, below the 19.9% it was seeking. It is offering $5 per share.

PFG chairman Barney Sundstrum said last week that his company was not planning to make a full takeover offer of the Ashburton-based non-bank mortgage finance company.

CBS shares last traded yesterday at $5.00, while PFG shares closed last Wednesday at $1.30.

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June 25th Morning Report