P527ORACLE 527 Mon17 Feb C4 1704:17
HOLMES A' COURT
RAISES BHP BID
Mr Robert Holmes a' Court has raised
the stakes in his bid for Australia's
largest company, BHP, with a move
designed to give him 50% of the equity.
The new bid, which comes just two weeks
after his original terms, offers to buy
half of every BHP shareholding.
The move will raise the cost of the
bid to his Bell Group from A$1.9bn to
A$3.5bn, but the offer still contains
many of the unusual conditions.
Among these are a limit on the cash
outlay to A$2bn and insistence on no
material change to the local oil price.
* HOLIDAYS GALORE! * 580