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

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)
Ian Llewellyn
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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