FMA clears Silver Fern over debt disclosures for Shanghai Maling deal

Tue, 24 May 2016

By Jonathan Underhill May 25 (BusinessDesk) - The Financial Markets Authority says it doesn't believe an information pack for Silver Fern Farm shareholders on the merits of a takeover by Shanghai Maling Aquarius was misleading, even though debt turned out to be lower than projected while profit and revenue were higher. The regulator was responding to complaints from the New Zealand First Party that Silver Fern had misled its shareholders by portraying the meat processor as being in a more parlous state than was the case in order to win su...

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