BRIDGETOWN, Barbados (CMC):

Directors of Barbados' largest private sectorbusiness, Barbados Shipping & Trading Company Limited (BS&T), were meeting yesterday to contemplate two crucial offers for the company.

Two leading Trinidadian companies - Neal & Massy and Ansa McAl - are looking to take a big stake in Barbados' business establishment. The meeting was called after a Trinidadian conglomerate, Ansa McAl Group, launched a hostile takeover bid for BS&T late last week.

In a full-page advertisement in the Sunday Sun newspaper, Ansa McAl announced its intention to make a cash offer of BDS$7 per share to all of the shareholders of BS&T.

The advertisement said that full details of the offer would be communicated to all shareholders in accordance with the regulations of the Securities Commission.

BS&T had previously accepted an offer of BDS$5.51 per share from another Trinidadian conglomerate, Neal and Massy. Both companies had described that deal as a merger.

If Ansa McAl takes control of BS&T, it will give it control over Barbados' leading food distributors, Stokes & Bynoe and SBI Distributors.