Independent directors commended by NZSA for standing firm against Millennium & Copthorne takeover

The takeover bid for Millenium & Copthorne Hotels values it at about $237 million. (Image: NZME)

Tue, 11 Feb 2025

Millenium & Copthorne's independent directors deserve kudos for publicly stating its majority shareholder’s bid price is too low, a shareholder advocate says.Managing director of the New Zealand Shareholders Association (NZSA), Oliver Mander, said he held concerns that minority shareholders’ interests would not be protected through the takeover bid process for the NZ Exchange-listed (NZX) firm.In January Singaporean-listed City Developments (CDL) launched a takeover bid for the 24.1% of the hotel owner and operator it doesn&...

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