29 JUNE 1929, Page 38

RAILWAY AND MOTOR COMPETITION

Shareholders of the United Automobile Services, Ltd., are to be congratulated upon the bids which are now being ;nide to acquire their shares. A few days ago they received a circu- lar from the Directors stating that a cash offer had been received from a certain direction, but by the following post came a circular advising them to hold their hands, pending an amended offer to be made by the London & North Eastern Railway Company. That offer provides for the purchase of the II shares at the price of 30s., payable in cash, conditional on acceptance being made not later than July 1st, and that such acceptances are to be not less than 51 per cent. (or such lower percentage as the Directors of the London & North Eastern Railway Co. may determine) of the ordinary shares of the company for the time being issued.

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