Fliway shareholders back $55.4 mln takeover

Fri, 08 Dec 2017

By Paul McBeth Dec. 8 (BusinessDesk) - Fliway Group shareholders have backed a $55.4 million takeover offer from Singaporean logistics firm Yang Kee Logistics, which will see another company leave the NZX. At a special meeting in Auckland today, almost 99 percent of votes cast were in favour of the $1.22 per share offer, which was at the upper end of the valuation range by independent adviser KordaMentha. The transaction was via a scheme implementation agreement, meaning it needed at least 50 percent of the total shares cast, and of that...

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