THE COURT’S DECISION to “take itself out of” the bidding war for Banks Holdings Limited (BHL) has opened the door for a higher offer from Brazilian company AmBev.
The beverage giant, through subsidiary SLU Beverages Limited, announced a $6.20 per share offer yesterday for the 60 per cent of shares it does not now own.
Last Friday Chief Justice Sir Marston Gibson removed an injunction that had suspended the bidding process and halted all trading of BHL’s shares on the Barbados Stock Exchange.
In doing so, Sir Marston said that based on the evidence presented to him, he felt the court “should take itself out of the bidding process”. (SC)
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