London Rhodesian (Lonhro)

London Rhodesian (Lonhro)

An article in The Bulawayo Chronicle on 26 July 1957 was headlined, ‘Glazers bid for Lonrho’. They had made a bid for 51% of the company, which had 4m shares in issue, by offering 13s. 6d. a share – a commitment of  £1,377 million. The company was advising shareholders not to accept the offer and promised it would provide reasons in a letter. The bid was ‘apparently’ unsuccessful, but the possibility is being investigated that they bought it through an alternative structure or front company as they did others. Reconstruction today would suggest cross-holdings.