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)

Tue, 20 May 2025

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%...

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