Metroglass spurns $33.4m offer from Masfen and Wells

Metroglass spurns $33.4m offer from Masfen and Wells
Simon Mander is the CEO of Metro Performance Glass. (Image: Metroglass)
Paul McBeth
Metro Performance Glass has rejected a non-binding offer from cornerstone shareholders Peter Masfen and Peter Wells, which valued the struggling glass maker at $33.4 million. The rich-listers pooled their 25% stakes – via their entities Masfen Securities and Takutai Ltd – in a cooperation deal and today sought to buy the rest of Metroglass at 18 cents a share, a 14.6% premium to yesterday’s closing price of 15.7 cents and more than the company’s net tangible asset value of 16.8 cents per share. The company&rsqu...

More Infrastructure

Auckland housing project withdrawn from fast-track
Policy

Auckland housing project withdrawn from fast-track

The developer plans to lodge a fresh application after draft decline.

Oliver Lewis 16 Sep 2025
150 years of infrastructure spending going ‘boom’
Infrastructure

150 years of infrastructure spending going ‘boom’

We actually spend a lot more on infrastructure than you might think.

Construction suicide costs at $1.3 billion
Infrastructure

Construction suicide costs at $1.3 billion

A survey found that almost one in five workers reported suicidal thoughts.

Chido Machingura 12 Sep 2025
F&P Healthcare one step closer to new Karaka campus
Policy

F&P Healthcare one step closer to new Karaka campus

Auckland Council has approved a request to rezone nearly 90ha going to hearings.

Oliver Lewis 12 Sep 2025