| MONIER SAYS BRITAIN'S REDLAND MAY BID FOR IT | |
| Diversified building materials group | |
| Monier Ltd <MNRA.S> said talks are taking place which may lead | |
| to Britain's Redland Plc <RDLD.L> making an offer for the | |
| Monier shares it does not already hold, chairman Bill Locke | |
| said. | |
| Redland already holds about 49 pct of Monier's 156.28 mln | |
| issued shares, he said in a brief notice to the Australian | |
| Stock Exchange. | |
| Locke said shareholders would be advised as soon as the | |
| discussions progressed and recommended that they keep their | |
| shares. | |
| Monier shares were trading at a 1987 high of 3.10 dlrs | |
| today, up from the previous peak of 2.80 at yesterday's close, | |
| and well above the 1987 low of 2.18 dlrs. | |
| Monier is the largest concrete roof tile manufacturer in | |
| Australia, the U.S. And New Zealand and the world's largest | |
| marketer of fly ash, according to its annual report for 1985/86 | |
| ended June 30. | |
| It recently reported first-half 1986/87 net fell to 15.02 | |
| mln dlrs from 17.09 mln a year earlier due to the Australian | |
| housing downturn, although foreign earnings rose. | |