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S. AFRICA'S BARLOWORLD BIDS FOR AUSTRALIA'S WATTYL LTD.

Publication: AsiaPulse News
Publication Date: 13-FEB-06
Format: Online
Delivery: Immediate Online Access

Article Excerpt
SYDNEY, Feb 13 Asia Pulse - South Africa's Barloworld has made a $A321 million ($US236.51 million) friendly takeover bid for Australian paint maker Wattyl Ltd (ASX:WYL), trumping Allco Equity Partners Ltd's $275 million offer.

Barloworld, the owner of the Taubmans, Bristol and White Knight Paints brands in Australia, will offer $3.80 per Wattyl share, valuing the Australian group at $321 million.

That compares to Allco's offer of $3.25 per share, which Wattyl has been fighting.

Wattyl directors said they would...

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