Metlifecare, Abano debacles may lead to Takeovers Code changes

Metlifecare, Abano debacles may lead to Takeovers Code changes
Takeovers Panel chief executive Andrew Hudson said changes address issues arising from takeovers. (Image supplied)
Jenny Ruth
The Takeovers Panel has begun consulting on changes to the Takeovers Code and related legislation, including whether bidders should disclose more information about how they plan to fund an offer.The panel is suggesting bidders should have to provide more details of, and certainty about, their funding arrangements, particularly when private equity firms are involved.Currently, all that is required of bidders is to state they have funding.The proposed change appears to have been inspired by the two examples last year of private equity funded bids...

More Finance

Budget 2024: tax relief on, surplus further off
Finance

Budget 2024: tax relief on, surplus further off

The package will be less generous than National’s election campaign promises.

Pattrick Smellie 27 Mar 2024
New Guardians of NZ Super CEO appointed
Finance

New Guardians of NZ Super CEO appointed

Townsend will be its first external CEO appointment since Adrian Orr in 2007.

Staff reporters 27 Mar 2024
Russia’s backdoor to the global banking system slamming shut
Finance

Russia’s backdoor to the global banking system slamming shut

Major Dubai lender has scaled back Moscow business, and Turks are now more cautious.