Forsyth Barr rates Manawa/Contact deal’s chances at 50/50

Manawa Energy's central North Island Huriwaka wind farm development site. (Image: Supplied)

Wed, 18 Sep 2024

Contact Energy’s attempted takeover of Manawa Energy is attractively priced for the target company’s shareholders, but approval from the competition regular is a line call, says investment firm Forsyth Barr.“The only key risk to it not proceeding is Commerce Commission opposition,” ForBarr analysts Andrew Harvey-Green and Hugh Lockwood wrote in a note to clients. “From our perspective, it is a 50/50 call whether CEN (Contact) will get clearance.”Contact announced a scrip and shares deal last week for 100...

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