ACC, Nikko, Fisher and ANZ will vote against Pushpay buyout

Pushpay board chair Graham Shaw has said the bid offers shareholders good "risk adjusted value". (Photo: TIN)

Wed, 22 Feb 2023

Sixth Street and BGH Capital’s bid to buy Pushpay Holdings is on shaky ground after four fund managers announced they will vote against the scheme of arrangement. The Accident Compensation Corporation, Nikko Asset Management, Fisher Funds and ANZ Investments have all announced they will oppose the buyout as they are unsatisfied with the offer price. This has spooked arbitrage investors and Pushpay shares have traded as low as $1.26, having traded at or above $1.30 for several weeks. A person familiar with the transaction s...

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