NZ Shareholders' Assn to back $2.56B Trade Me takeover

Mon, 25 Mar 2019

By Paul McBeth March 25 (BusinessDesk) - The New Zealand Shareholders' Association will back the $2.56 billion takeover of the local software company Trade Me at next week's special meeting. The investor group will vote any proxies it holds in favour of the $6.45 a share offer at the April 3 meeting. The association said the offer by UK private equity firm Apax Partners was above the independent valuation and that it was satisfied Trade Me executives won't reap excessive profits from the transaction. "Unlike some recent offers, no sh...

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