MARKET CLOSE: NZ shares rise as Metlifecare jumps on new takeover bid

Mon, 06 Jul 2020

New Zealand shares rose, led by Metlifecare after the retirement village operator received a new takeover offer from its on-again, off-again suitor, EQT. The S&P/NZX 50 Index advanced 97.51 points, or 0.8 percent, to 11,656.21. Within the index, 34 stocks rose, 8 fell, and eight were unchanged. Turnover was $111 million. Metlifecare led the benchmark higher, jumping 10.3 percent to $5.76 after Swedish investor EQT made a new takeover bid at $6.00, a dollar less than the original offer but $1.78 more than Friday’s closing price of $5.22....

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