South African equipment manufacturer Bell Equipment has been advised that shareholders, including IA Bell (38.7%) and John Deere (31.4%) have signed a nonbinding memorandum of understanding (MoU) regarding a possible purchase of John Deere’s shareholding in Bell Equipment, by IA Bell.
The conclusion of this nonbinding MoU and any resultant purchase may have a material effect on the market price at which Bell Equipment’s shares trade on the JSE Limited, the manufacturer warned.