The directors of Bell Equipment, the listed earth moving equipment group, which may soon be bought out by its founders, caught the ire of certain investors at last Friday’s annual general meeting, because of a refusal to consider more suitors than the chairman’s family trust.

Lead independent non-executive director John Barton said the board would not be considering new takeover offers for the company and that it was only in talks with IA Bell, the company’s largest shareholder — with a 38.7% stake. ..

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