Abano takeover scrapped as clinics closed; shares drop 13.9%

Jenny Ruth
Mon, 30 Mar 2020

Jenny Ruth
Mon, 30 Mar 2020
The takeover of Abano Healthcare has been scrapped and the company has now closed all its Australian dental clinics due to the covid-19 outbreak.Abano shares are down 32 cents, or 13.9 percent, at $1.99 and have dropped 61.7 percent year to date.The fight against the covid-19 virus constitutes a material adverse change and so has scuttled the takeover via a scheme of arrangement - which was approved by shareholders on March 20 - by private equity firm BGH Capital and the Ontario Teachers' Pension Plan Board, known as Bidco.The New Zealand denta...
Economy
BRIAN GAYNOR: Aluminium smelter reaches use by date
Brian Gaynor | Sat, 11 Jul 2020

The negative market reaction to Rio Tinto’s announcement that it was winding down the Tiwai Point aluminium smelter was overdone, particularly for investors with long-term perspectives. The smelter...

Markets
MARKET CLOSE: NZ shares fall as energy sector sell-off continues
Dan Brunskill | Fri, 10 Jul 2020

New Zealand shares fell as energy stocks declined for a second day following the announcement Rio Tinto’s New Zealand aluminium smelter will close. Chorus led the market lower on the risk of more r...

Finance
Metlifecare and EQT enter new $6 per share takeover agreement
Jenny Ruth | Fri, 10 Jul 2020

Metlifecare said it has entered into a new scheme of arrangement with Swedish company EQT to buy all its shares for $6 each, a dollar less than the earlier deal EQT had repudiated, but only four of th...

The role of private equity in the wake of COVID-19

As local covid-19 restrictions ease, a new business cycle is beginning in New Zealand.

Sponsored: What’s next for the future of the office?

Think everyone is going to keep working from home? No so fast, says Milford Asset Management.