Australia's GWA lobs in $118M bid for Methven

Thu, 13 Dec 2018

By Paul McBeth Dec. 14 (BusinessDesk) - Australian kitchenware firm GWA Group is mounting a $118 million bid for Kiwi tapware maker Methven and has the blessing of cornerstone investor Brendan Lindsay, barring a better offer emerging. Methven's directors have agreed to a scheme implementation agreement in which GWA would pay $1.60 a share, a 39 percent premium to the $1.15 price before the deal was announced today. Since trading resumed, the shares have climbed 23 percent to $1.41. GWA would also let Methven pay an interim dividend of up...

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