Commerce Commission dithering over Manawa deal cost some shareholders millions of dollars

Commerce Commission dithering over Manawa deal cost some shareholders millions of dollars
The Commerce Commission took longer than necessary over the Manawa takeover. (Image: NZME)
Paul Ridley-Smith
The Commerce Commission’s dithering and negative messages over Contact Energy’s takeover of Manawa Energy cost some shareholders millions of dollars.The time taken and the extent of the losses were entirely avoidable as, applying the law, the commission’s approval of the takeover was straightforward, despite some having broader doubts about competition and market concentration in the wholesale electricity market.To recap, on Sept 11 2024, Contact and Manawa announced a scheme of arrangement in which Contact would acquire 100%...

More Markets

NZ stocks end flat as US Fed decision looms
Markets Market Close

NZ stocks end flat as US Fed decision looms

Market finishes slightly down as telco company Spark loses more ground.

Jamie Gray 12 Sep 2025
Locate Technologies plans to quit ASX for NZX
Markets

Locate Technologies plans to quit ASX for NZX

Bitcoin-favouring Locate Technologies eyes move to NZX's main board.

Staff reporters 12 Sep 2025
Vital takeover bid passes threshold at 11th hour
Markets

Vital takeover bid passes threshold at 11th hour

Tait International has secured acceptances to meet the 90% minimum condition for its Vital takeover less than a day before the offer was set to expire.Vital filed a substantial product holder (SPH) notice to the NZX on Friday morning, which showed Tait's stake lifted to 92.1%...

Gregor Thompson 12 Sep 2025
Tower again hikes FY underlying profit outlook
Markets

Tower again hikes FY underlying profit outlook

Insurer sees FY underling profit up as large events weigh less than expected     

Staff reporters 12 Sep 2025