Major Bremworth Shareholders Reject Competitor's Takeover Bid

Major shareholders of carpet maker Bremworth have rejected a revised takeover offer from the owner of Godfrey Hirst, effectively ending their acquisition hopes.

Last Thursday, the NZX-listed carpet maker received the revised offer from an entity controlled by New York-listed Mohawk Industries, which owns Godfrey Hirst. The proposal sought to acquire all shares in Bremworth at a price of 95 cents per share.

Following the rejection of this competing bid, David Ferrier is now in a prime position to complete his partial takeover of the carpet manufacturing company.