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Mariner makes surprise bid to take over Woolmark
22 Apr 2005
A private equity fund associated with Mariner Financial group may be bidding to buy the assets of Woolmark, the marketing company funded by licence fees. Rumours of a bid have emerged against a background of renewed talks between Woolmark and Australian Wool Innovation, the research and development body of Australian wool growers, over a merger under a single board and management team. Woolmark and AWI separated five years ago. AWI collects around $50 million a year in levies on wool for research and development. Woolmark is a commercial company. In an apparent extension of its mandate, AWI this week offered to commit US$5 million to a global marketing program.
West Australian, 22/04/05
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