Methven shareholders vote to approve GWA Group takeover

Tue, 12 Mar 2019

By Rebecca Howard March 12 (BusinessDesk) - Methven shareholders voted to approve a $118 million takeover by Australian kitchenware firm GWA Group. The offer was via a scheme of arrangement and GWA needed at least 50 percent of shareholders to vote and 75 percent of those voting to be in favor, rather than the 90 percent threshold needed in a formal takeover to enforce mop-up provisions. Of the votes cast, 98 percent were in favor while 1.99 percent were opposed. GWA's takeover offer of $1.60 a share was at the top of independent advi...

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