Empire gets largest Vital shareholder to support 50.01% takeover offer

Simon and Paula Herbert. (Image: Supplied)

Tue, 20 Aug 2024

The largest shareholder in New Zealand Exchange-listed fibre business Vital is backing Empire Technology’s $8 million takeover offer for 50.01% of the shares, according to the man leading the deal.Empire director Simon Herbert said Vital’s single largest shareholder, Asset Management Partners, which holds 8% of the company, had reached an agreement and accepted Vital’s offered price.“We have given a substantial product holding notice to the NZX that we have reached agreement with Asset Management Partners that they will...

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