25 Nov 2011

Pyne Gould takeover bid offer extended

7:31 am on 25 November 2011

The two biggest shareholders in Pyne Gould Corporation have extended their sweetened takeover bid by another week.

Shareholders now have until 16 December to consider the 37 cent a share bid by Australasian Equity Partners, which is owned by Pyne Gould investors George Kerr and Baker Street Capital.

An appraisal report values Pyne Gould at between 49 and 57 cents.

Australasian Equity Partners has acceptances giving it 39% of Pyne Gould.