GWA's $118m offer for Methven comes after years of underperformance

Mon, 11 Feb 2019

By Jenny Ruth Feb. 11 (BusinessDesk) - Grant Samuel’s report on Australia-based GWA’s $118 million takeover offer for Methven is a sorry reminder of how poorly the New Zealand-based tap maker has performed for investors. The shares were floated at $1.43 in November 2004, reached around $2.50 in 2007 and since then haven't got above $2. Grant Samuel values them now at $1.41-$1.60. GWA is offering $1.60 per share and will also allow shareholders to receive a 5 cents per share first-half dividend, effectively valuing the offer at $1.65 per s...

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