An offer has been made by Argyle Industries to purchase the remaining stocks of Hardware and Lumber Limited.

The takeover bid, which was made last Friday, follows Argyle’s December acquisition of Grace Kennedy’s shares in the company.

Argyle has offered to purchase all Hardware and Lumber stock from ordinary shareholders at a price of 18 dollars and 50 cents Jamaican.

The offer officially opened yesterday and runs until March 4.

During that time Hardware and Lumber says it intends to set up a special Audit Committee to review and address the offer.