Premier investors fight Paladin deal

Tuesday 11 May 1999 00:02 BST

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Premier investors fight Paladin deal

THE PREMIER OIL Shareholders Association yesterday said merger talks with Paladin Resources would be bad news for Premier, after reports that the two oil companies are discussing a pounds 220m reverse takeover. The association, whichwants to change Premier's management, said the plans would hand over the company "on the cheap at arguably a third to a half of underlying value". It backs realising value by selling assets in South-east Asia and making board changes. Premier shares closed up 1p at 22.25p.

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