Heartland trumps Turners in bid for MTF cornerstone stake

Tue, 13 Oct 2015

By Paul McBeth Oct. 13 (BusinessDesk) - Heartland New Zealand, the listed bank, says it may offer to pay 30 percent more than financial services firm Turners to buy a cornerstone stake in auto-financier Motor Trade Finances. The Auckland-based lender says it may pay $1.50 a share for between 10 percent and 20 percent of Dunedin-based MTF, and reaffirmed its interest in a full takeover provided it can reach agreement with the finance company's board, it said in a statement after the close of trading. The offer trumps Turners' offer to buy...

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