GUS MAKES 8.2 MLN STG AGREED OFFER FOR PANTHERELLA
Great Universal Stores Plc <GUS.L> said
it has made an agreed offer for <Pantherella Plc>, valuing the
company at 8.2 mln stg and each Pantherella ordinary share at
205 pence.
    The offer is based on eight new "A" non voting ordinary
shares in GUS plus 95.16 stg for every 100 ordinary
Pantherella.
    The new GUS shares will not receive the eight pence per
share interim dividend in respect of the year ending March
1987, the statement said.
    GUS has received irrevocable undertakings to accept the
offer in respect of 39.1 pct of Pantherella shares from the
company's directors and their families.
    The Pantherella board estimates the company, which
manufactures socks, will show a 1986 pretax profit of about
690,000 stg.
 REUTER
