SUN-RYPE SAYS NO AGAIN
By Adnews Staff
Sun-Rype Products of Kelowna, B.C. has once again turned down a takeover bid by Clearly Canadian of Vancouver because the offer isn't high enough. Sun-Rype board chairman Merv Geen says in a release that the revised offer fails to address even one of the several reasons the board cited in rejecting the original offer. The only changes made to the offer were the dropping of the minimum of four million Class B shares and at least one Class A share being tendered, and the extension of the deadline offer to Aug. 19. Sun-Rype is controlled and 60% owned by the B.C. Fruit Growers Association. Its biggest business is fruit juices, but it also makes dried fruits and granola bars. Clearly Canadian is also a juice marketer. Advertising for both companies is done by Palmer Jarvis Advertising of Vancouver.