Manawa shareholders should consider switching to Contact, say Forsyth Barr analysts

Infratil has more to lose than Contact if the takeover of Manawa is declined, the analysts say. (Image: Manawa)

Mon, 23 Sep 2024

Manawa Energy shareholders should consider switching to Contact Energy as the takeover play under way unfolds, say analysts at Forsyth Barr.Contact has entered a scheme of implementation intending to take a 100% share of generator Manawa.The deal values Manawa at approximately $2.3 billion, compared to its market capitalisation of $1.26b based on the $4.03 share price before the offer was announced.Contact would pay a combination of 0.5719 Contact shares for each share held by Manawa shareholders and a cash payment of $1.16 per Manawa share.Con...

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