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Allied Farmers offers hand of welcome to Hanover investors
Wednesday 18th of November 2009
The deal needs approval from investors in Hanover and its associate United Finance and from Allied Farmers' shareholders, who will be diluted down to 5% of a vastly larger company. Allied chairman John Loughlin has to convince them that taking on a loan book that's 80% bad offers the best prospects for the company's economic growth and their wealth. Allied's stock rose 6.1% to 35 cents today, h...
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