A two-month campaign by Brierley Investments Ltd.,...
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A two-month campaign by Brierley Investments Ltd., New Zealand’s biggest company, to persuade Los Angeles-based cement maker CalMat Co. to accept a $90-million bid can claim no victories yet. Brierley Deputy Chairman Bruce Hancox said in an interview that there had been considerable dialogue between the two groups, but the two sides have not moved closer. Brierley owns 19% of CalMat and has said it plans to offer $40 a share through its Hong Kong-based Industrial Equity (Pacific) Ltd. for the rest of the shares.
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