Financier Sir Ron Brierley's Guinness Peat Group made an unsolicited bid for the company in January 1998, but was outbid by Mattel acting as a white knight.
However, Bell Resources was not able to buy its parent, due to share raids being made on Bell Resources by Kerry Packer, Adelaide Steamship Company (under John Spalvins) and IEL (Ron Brierley).
During his absence from national politics Douglas held senior positions at a number of prominent companies such as BIL which he briefly served as Executive Chairman.
In 1989 Paul Fraser began to invest in the firm, and he purchased a further 30% stake in the company from New Zealand businessman Sir Ron Brierley who is a stamp collector.
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