Simon Herbert warns Empire Capital may reconsider Vital partial takeover bid

Empire Capital's Simon Herbert says Empire would add value to Vital's business. (Image: NZME)

Mon, 02 Sep 2024

Empire Capital has fired a salvo at listed tech minnow Vital in its partial takeover pursuit. On Monday morning, Empire Capital’s Simon Herbert emailed a statement saying Empire was considering whether to proceed with its offer due to Vital’s poor performance and refusal to allow due diligence. Empire launched a partial takeover offer for Vital on Aug 14, valuing Vital shares at 37.5 cents each. On Aug 16, the New Zealand Exchange (NZX) listed telecommunications company rejected Empire’s request for due dil...

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