Answers Activity 3

As you know, gentlemen, Signal Industries Ltd. have made an offer which would result in them acquiring a controlling interest in this company, if it were accepted. , I have called this meeting of the Board. , I am personally inclined not to recommend its acceptance, primarily it would not be to our shareholders' advantage, although of course we are consider it. The offer in itself is hardly generous – only five per cent above the present market price for our shares and the opportunity to purchase Signal shares . , it seems to me that Signal have underestimated our recent recovery and I propose that the Board should resist the bid, partly because of the marked improvement in our trading position but because I don't believe the bid as it stands can be taken seriously.


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