Wildweb sits on Kresta bid

Townsville Bulletin - - Investor -

Ian Tra­har WILDWEB En­ter­prises Pty Ltd says it won’t in­crease its $ 46.9 mil­lion takeover of­fer for win­dow fur­nisher Kresta Hold­ings Ltd. Wildweb said its 32.5 cents per share of­fer for Kresta was ‘‘ a fair mar­ket price in an illiq­uid mar­ket.’’ Wildweb launched the cash of­fer for the blinds re­tailer last month. ‘‘ Share­hold­ers who want to exit Kresta now have a clear choice be­tween our 32.5 cents of­fer and what they may be able to achieve on mar­ket,’’ Wildweb chair­man Ian Tra­har said. Kresta ad­vised share­hold­ers on Wed­nes­day the Wildweb of­fer was ‘‘ nei­ther fair nor rea­son­able’’.

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