Metlifecare says indicative bid too low

Metlifecare says indicative bid too low
Paul McBeth
Metlifecare has rejected an indicative takeover offer of $6.50 a share as being too low after sounding out some of its major shareholders.The board said its internal valuation could be in excess of $8 a share, depending on the assumptions used.The indicative offer from an unnamed suitor came out of the woodwork last month and, while it would’ve been a premium to the $5.18 price the shares were trading at, it’s still below Metlifecare’s net tangible asset value of $6.96 per share.“Following confidential institutional soundings, a binding offer a...

More Property

Listed property firms welcome ‘Investment Boost'
Property

Listed property firms welcome ‘Investment Boost'

The tax policy could translate into millions in extra cash.

Gregor Thompson 04 Jul 2025
The business born battling Vector connection contracts
Property

The business born battling Vector connection contracts

'Pretty on the nose': Developers challenge Vector's hefty fees.

Garth Bray 04 Jul 2025
Formcrete Construction owes $7.4m as liquidation unfolds
Property

Formcrete Construction owes $7.4m as liquidation unfolds

A large chunk of the debt is shareholder loans.

Riley Kennedy 03 Jul 2025