Shareholders prepared to fight Bell Equipment acquisition in court

accreditation
Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
loading...
Loading, please wait...
Chris Logan, owner and CIO of Opportune Investments, says Bell Equipment has deteriorated dramatically in the past seven years.
Chris Logan, owner and CIO of Opportune Investments, says Bell Equipment has deteriorated dramatically in the past seven years.
Supplied

Concerned shareholders say they are willing to take Bell Equipment’s founding family to court to prevent what it has called a "predatory" intention to acquire the 67-year-old company on the cheap.

For the past 26 years, Bell Equipment has traded publicly, following its 1995 JSE listing. Today, the family’s holding company, IA Bell, which happens to be the company’s biggest shareholder, is working to buy back the Bell Equipment for R10 a share and delist it, taking it back into its hands. And the first step is acquiring US equipment company John Deere’s 31.4% stake, a transaction IA Bell says is ongoing.

Read this for free
Get 14 days free to read all our investigative and in-depth journalism. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed.
Subscribe
Already a subscriber? Sign in
Rand - Dollar
15.85
-0.3%
Rand - Pound
19.46
-0.4%
Rand - Euro
16.79
-0.7%
Rand - Aus dollar
10.98
-0.1%
Rand - Yen
0.12
-0.0%
Gold
1,824.61
-0.2%
Silver
21.16
+0.1%
Palladium
1,872.98
-0.4%
Platinum
910.86
-0.1%
Brent-ruolie
113.12
+2.7%
Top 40
61,525
+2.5%
All Share
67,827
+2.2%
Resource 10
65,489
+1.6%
Industrial 25
80,203
+4.5%
Financial 15
15,428
-1.3%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot