When private equity goes shopping: The Warehouse and Arvida are a sign of deals to come

The Warehouse shareholders, including Farmers owners the Norman family, could get a decent premium over recent share prices. (Image: NZME)

Rebecca Stevenson

Tue, 23 Jul 2024

Harbour Asset Management’s Shane Solly said in January that no one would be safe from merger and acquisition activity in 2024. His prediction turned out to be on the money, with retirement operator Arvida and The Warehouse Group getting private equity buyout bids this week. Arvida’s bid has come in at $1.70 per share, while The Warehouse’s is up to $1.70. Coincidentally, the failed bid to buy chip-maker Rakon was also for $1.70. Solly pointed out at the beginning of the year that New Zealand firms were ripe for...

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