Caribbean merger held up


Following last month’s report regarding the merger of Barbados Shipping & Trading (BS&T) with Neal & Massy of Trinidad & Tobago, it has emerged that shareholders have yet to decide on the proposed deal.

The merger offer to BS&T shareholders will not expire until shareholders get a chance to meet and decide on the matter, according to Arthur Lok Jack, chairman of Neal & Massy, who revealed that his company was prepared to wait until the extraordinary meeting of shareholders took place.

The previous meeting had been held up due to a court injunction that had been imposed, though BS&T’s chief executive Anthony King said the conglomerate was doing all it could to lift this, $quot;BS&T is seeking to have the injunction lifted so that the meeting can take place and that shareholders can deal with the matter before them. The whole matter has to be decided on by shareholders one way or the other.$quot;

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