Comvita pulls out of takeover talks after failing to reach a deal on price; shares drop 7.1%

Mon, 21 May 2018

By Rebecca Howard May 21 (BusinessDesk) - Comvita pulled out of talks with an unnamed third party looking to take over the NZX-listed manuka honey company when it couldn't reach a deal on price. The stock fell 7.1 percent. Last month Comvita said the third party was undertaking due diligence to assess the potential acquisition of all or substantially all the shares in Comvita and would update the market in mid-May. According to Comvita the deal "could have been very positive for the Company and ‘NZ Inc’ in driving the ‘Comvita brand’...

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