Masfen and Vulcan Steel’s Wells make MetroGlass play

The MetroGlass shareholders have signed a cooperation and process agreement. (Image: MetroGlass)

Tue, 18 Jul 2023

Masfen Securities and Takutai Ltd have made a play for Metro Performance Glass, pooling their collective 25% stake in the country’s biggest glass processor. The MetroGlass shareholders have signed a cooperation and process agreement to work together to take over some or all of the glass processor through either a scheme of arrangement – where they would have the board’s blessing – or a takeover offer. MetroGlass closed at 15.7 cents yesterday, valuing the company at $29.1 million and the Masfen and Ta...

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