Metlifecare buyer needs weekend to finalise $1.49b bid

Metlifecare buyer needs weekend to finalise $1.49b bid
Paul McBeth
Metlifecare’s mystery buyer has completed due diligence for its $1.49 billion takeover bid but needs the weekend to get final approval for the deal. The retirement village operator’s board completed negotiations for a scheme implementation agreement – which needs a lower level of support than a formal takeover to get across the line – at $7 a share. That’s up from the initial $6.50 offer that was rejected by Metlifecare’s major shareholders and a small premium to company’s $6.96 a share net tangible asset value. The shares last traded...

More Property

Leighs opts out of Scott Base build
Infrastructure

Leighs opts out of Scott Base build

The Antarctic contractor is focused on offices, healthcare and apartments.

Oliver Lewis 09 May 2025
Two housing projects snare first fast-track panels
Policy

Two housing projects snare first fast-track panels

Applications opened on Feb 7. Now we have our first panels.

Oliver Lewis 08 May 2025
NZ Super Fund, Russell, Lockwood want to sell $600m+ hotel portfolio
Property

NZ Super Fund, Russell, Lockwood want to sell $600m+ hotel portfolio

The Adina Apartment Hotel Auckland is one of seven properties for sale.

Staff reporters 07 May 2025
Property flipping 'pushing up prices': Valuer
Property

Property flipping 'pushing up prices': Valuer

Rapid trading, sometimes on the same day, is hurting low-income buyers, valuer says.

Maria Slade 07 May 2025