Metlifecare's strong results make EQT offer look worse

Thu, 27 Aug 2020

Metlifecare's bettering of its own profit guidance and its re-based per-share valuation shine a harsh light on Swedish suitor EQT's takeover bid, making it look even more of a lowball offer. These factors also highlight the questionable nature of EQT's grounds for scuttling its earlier offer. But this may not make any difference if the New Zealand Superannuation fund, which owns 19.8 percent, continues to back EQT's latest $6 per share offer. EQT withdrew its earlier $7 per share offer in April, blaming the covid-19 outbreak. It's also...

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