AusRAIL, Market Sectors

Toll increases Tranz Rail stake

<p>Toll Holdings has increased its share in takeover target Tranz Rail to almost 20%, it said today (Friday, June 27).</p> <p>Toll said it has purchased an additional 20.8m shares at NZ94 cents a share to take its shareholding in Tranz Rail to 19.99%.</p> <p>The company has submitted a takeover bid of NZ95 cents a share.</p> <p>It requires 50% of the shareholding to complete its takeover.</p> <p>The takeover offer expires on July 23. </p> <br />