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You are here: Home1 / News2 / Product News3 / Bridgestone Minority Opposes Buyout

Bridgestone Minority Opposes Buyout

Date: 2nd September 2005 Author: Tyrepress Editors Comments: 0

A minority shareholder of Bridgestone Firestone Maxiprest, South Africa, wants to block the company’s proposed minority shareholders’ buyout scheme according to news reports.

The company offered minority shareholders Rand 115 cent a share. It said 35.5 per cent of shareholders had voted in favour of the scheme. However, Peter Burmeister urged shareholders to reject the offer. He said the company should pay shareholders 140c per share.

Bridgestone Firestone Maxiprest company secretary Gordon Sinclair said yesterday that the three independent non-executive directors “whose primary responsibility is to look after the interests of minority shareholders, would not agree to the scheme if it was unfavourable to (them)”.

Shareholders will vote on the offer next Monday.

Related news:

  1. Bridgestone South Africa Expects Loss
  2. Business As Usual In South Africa – Ford And Bridgestone
  3. Bridgestone flexes muscle at Maxiprest
  4. Bridgestone Keeps Charity Rolling with Tyre Donation
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