Pushpay slides after aborted takeover

(Image: Pushpay)

Mon, 06 Mar 2023

Pushpay Holdings dropped 8.9% in early afternoon trading after shareholders rejected a $1.53 billion takeover bid from BGH Capital and Sixth Street. The stock fell as low as $1.10 and was recently down 11 cents at $1.12 on the NZX, below the $1.34 per share offer the board recommended, but still higher than the $1.03 level cited as an undisturbed price before rumours of the bid emerged. Today's fall added to the 3.9%, or 5 cents, decline on Friday when trading in the company resumed.Shareholders rejected the bid at last Friday’s...

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