Auckland, New Zealand, August 30, 2006--One of the owners of bed maker Sleepyhead says they will definitely be making an offer for the financially troubled carpet maker Feltex, according to IRN News.
But Graeme Turner says he cannot say what that offer will be, until they have finished going through the Feltex books and that is expected to be around Tuesday next week.
Feltex Spokesman John Walsh says the rival Australian carpet maker Godfrey Hirst has largely completed its due diligence.
The Australian regulator ACCC and now the Commerce Commission here has cleared Godfrey Hirst to bid for Feltex.
It has offered $141.8 million to buy out the company.
The Commission says it is satisfied the proposed acquisition would not substantially lessen competition in carpet making in New Zealand.
