South Africa

Fury over Bell’s takeover deal

Investors on Friday slammed the independent board appointed by Bell Equipment to oversee a takeover offer from the family trust controlling the company, saying it had done nothing to protect minority shareholders from a predatory bid.

Speaking at a heated meeting on Friday, they said that if the non-binding offer from IA Bell, which owns 38.7% of Bell Equipment, was allowed to go through, the sale of the company at R10 per share would be tantamount to the Bell family asset-stripping the company...

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