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Bond makes bid on J.N. Taylor Ltd.

Bond makes bid on J.N. Taylor Ltd.

Bond Corp. Holdings Ltd. said it made a A$3.61-a-share offer for the 9.1 million preference shares in it J.N. Taylor Holdings Ltd. unit that it does not already own.

Bond Corp. holds 68.1 percent of J.N. Taylor's preference shares; Bond also owns 99.2 percent of J.N. Taylor's ordinary, or common, shares.

J.N. Taylor is an investment company. Most of its assets have been sold since it came under the control of Bond Corp.

Cedric Williamson, legal counsel for Bond Corp., said Bond might "in due course" move to wind-up, or liquidate, J.N. Taylor.

Separately, Australian regulators told Bond Corp. to speed completion of its overdue accounts for the fiscal year ended June 30.

Bond Corp. and its units could be suspended from trading on the Australian Stock Exchange later this month because of the delays in reporting the results.

The company recently said it couldn't complete the accounts on time, in part because regulators are conducting a hearing into certain Bond Corp. transactions.
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Title Annotation:Bond Corporation Holdings Ltd.
Publication:Modern Brewery Age
Date:Oct 23, 1989
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