Bell Equipment set to exit JSE as founding family eyes full control
15 July 2024 - 08:05
UPDATED 15 July 2024 - 20:30
Shares in Bell Equipment surged 49% after the founding family dangled a multibillion-rand buyout carrot before minority shareholders, in a move that will end the maker and distributor of heavy industrial machinery’s 30-year history on the JSE.
The Bell family, which holds about 70% of the company via an investment outfit called IA Bell, offered minorities R53 cash per share, a 56% premium to the closing price on Friday and valuing the company at about R5bn...
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