Motor Trade Finance rejects takeover offers as too low

Thu, 23 Jun 2016

By Sophie Boot June 23 (BusinessDesk) - Motor Trade Finance has rejected all offers from parties looking to acquire all or part of the Dunedin-based auto-financier, saying they undervalued the business. The company said none of the indicative proposals it had received in a market-testing process were good enough to put forward to shareholders. MTF got one indicative proposal for the whole business and multiple proposals to acquire a cornerstone shareholding of up to 20 percent, it said. The proposal for 100 percent of the shares inc...

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