Forum Archive Index - November 2003

[James Pullen <james@embedded.co.nz>]

Anyone have any idea why they are bothering to do this? Their offer price 
remains $1.10, nobody in their right mind would accept when they are 
trading on market today at $1.46. Is there some technical reason why they 
would want to keep the offer open or are they just hoping enough uninformed 
people will blindly accept each time they mail out the offer documents?

disc: hold TRH


At 04:09 p.m. 7/11/2003, you wrote:
>Tranz Rail Holdings Limited 14e8c4a7.gif
>
>TRH
>07/11/2003
>TAKEOVER
>
>REL: 1502 HRS Tranz Rail Holdings Limited
>
>TAKEOVER: TRH: Notice of Variation of Takeover Offer for TRH
>
>Toll Holdings Limited has provided the following Notice of Variation of
>Takeover Offer for Tranz Rail Holdings Limited ("Tranz Rail") pursuant to
>Rule 24(3) of the Takeovers Code
>
>Dear Tranz Rail Shareholders and Optionholders
>
>We refer to our offer dated 26 July 2003 to acquire up to 100% of the shares
>and options of Tranz Rail ("the Offer") which is now unconditional.
>
>Toll hereby gives notice that pursuant to Rule 24(3) of the Takeovers Code
>the Offer is being varied by extending the date by which acceptances of the
>Offer must be received to 6.00pm on 22 December 2003.
>
>Other than the extension of the offer period all other terms of the Offer
>remain the same. If you have already accepted the Offer, those acceptances
>will remain valid.
>