Investors selling Diligent shares to avoid being taxed, analysts say

Fri, 08 Apr 2016

By Sophie Boot April 8 (BusinessDesk) - New Zealand-based investors are selling out of Diligent Corp before the company's acquired by venture capital firm Insight Venture Partners out of fear they'll have to pay tax, analysts say. Under the terms of the agreement, Diligent shareholders will receive $7.39 (US$4.90) in cash per share. The shares will go into a trading halt on Monday after the market closes before a special meeting of stockholders on Wednesday morning. If the sale goes ahead, Diligent will be delisted and money will be paid...

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