Investors eye higher price in Metroglass tussle

NZ has enjoyed a building boom over the past decade. (Image: Depositphotos)

Wed, 19 Jul 2023

The battle for control of Metro Performance Glass has kicked off with the board rejecting a bid valuing the glass maker at $33.4 million and investors expecting a sweeter offer to exit what’s been a perennial underperformer. Two of the company’s biggest shareholders – rich listers Peter Masfen and Peter Wells – pooled their stakes into on 25% holding as they lobbed in an indicative offer to the board of 18 cents per share. That was less than both paid in building up their respective stakes in recent years and a...

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