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Article: Coates Hire rejects 2nd takeover attempt MOVERSMARKETPLACE by Bloomberg
- Article from:
- International Herald Tribune
- Article date:
- September 6, 2007
- Author:
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Stuart Kelly
International Herald Tribune
09-06-2007
Coates Hire, the largest Australian rental equipment company, rejected Wednesday a second takeover bid from Carlyle Group and National Hire.Carlyle, the investment bank based in Washington, and National Hire, the rental firm based in Sydney backed by the billionaire Kerry Stokes, raised their offer for Coates to 1.6 billion Australian dollars, or $1.3 billion, 13 percent higher than the closing price Tuesday, National Hire said Wednesday.The board ''has ...