Fliway takeover at upper end of independent adviser's range

Wed, 22 Nov 2017

By Paul McBeth Nov. 22 (BusinessDesk) - A $55.4 million takeover of NZX-listed logistics firm Fliway Group is at the upper end of an independent valuation range, and unless a better bid emerges the pros outweigh the cons, according to the deal's independent adviser report. KordaMentha valued Fliway's shares at between $1.04 and $1.24 after putting the firm's financial under the microscope, putting Singaporean logistics firm Yang Kee Logistics' $1.22 per share offer at the upper end of the range. The deal has the backing of Fliway's board...

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