Comvita opens books to bidder, cuts costs

Comvita chairman Brett Hewlett. The board is working through a bid for the entire business from a credible offshore party. (Image: NZME)

Rebecca Stevenson

Mon, 20 May 2024

Comvita has opened its books to its potential buyer. In an announcement to the New Zealand Exchange on Monday, the honey company said it had given the unnamed bidder confidential access to the company so it could undertake due diligence. Comvita received the unsolicited bid in February. It said the bid was to buy the shares at a significant premium to its share price but didn't give a figure.It had established a board subcommittee to oversee the process and had received advice from financial advisers Goldman Sachs as well as legal...

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