AFTER TELLING SHAREHOLDERS to await further word from them, Banks Holdings Limited’s (BHL) directors are now washing their hands of any plan to guide shareholders one way or another on a looming takeover bid.
As the clock ticks closer to the October 26, 3 p.m. deadline when the $4 per share offer from SLU Beverages Ltd runs out, the BHL’s directors said they were not prepared to advise ordinary shareholders whether to accept the offer or not.
“The directors are of the view that it is in the best interest of the general body of shareholders of BHL that they should not make a recommendation to accept or to reject the offer,” the board of directors said.
Please read the full story in today’s Daily Nation, or in the eNATION edition.
