Briscoe to defend Kathmandu claim for $3.2 mln of takeover costs

Mon, 11 Jul 2016

By Paul McBeth July 12 (BusinessDesk) - Briscoe Group will defend a claim by outdoor equipment chain Kathmandu Holdings for $3.2 million in costs incurred during last year's failed takeover bid. Auckland-based Briscoe, which is Kathmandu's biggest shareholder, has already paid $637,711.65 to reimburse some of Kathmandu's costs, but says the balance doesn't meet the criteria set out in the Takeovers Code. "The disputed amount consisted of fees charged by global investment advisers Goldman Sachs and consulting firm Bain & Co," Briscoe...

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