Metlifecare seeks shareholder support for action against ex-suitor, EQT

Tue, 02 Jun 2020

Metlifecare will seek shareholder support to pursue litigation against its former suitor after the High Court rejected an application that would have preserved a shareholder vote on the teetering $1.5 billion takeover. The retirement village operator and developer is suing EQT and its Asia Pacific Village Group unit over the Swedish buyout firm’s decision to back out of the deal, citing the impact of the covid-19 pandemic on Metlifecare's prospects. Metlifecare petitioned the High Court to let it proceed with a shareholder vote on the sc...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Already a Subscriber ? Sign in here.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

The Quiz Free

QuiznessDesk, Thursday, Oct 09

Think you're clever enough?

The Quizmaster 9:15am

Primary Sector

Why NZ's US tariff rates could rise on a whim

NZ's trade surplus with the US is likely to go up. Donald Trump won't like that.

Greg Hurrell 5:00am

Why NZ's US tariff rates could rise on a whim

Technology

The AI 'canary' in the consulting coal mine

Audit and advisory firms are largely keeping quiet about their AI safeguards.

Dileepa Fonseka 5:00am

The AI 'canary' in the consulting coal mine

Sponsored

Why New Zealand organisations need to rethink their cloud strategy

New Zealand organisations have embraced cloud computing over the past decade, but many are now confronting a sobering reality: adoption alone isn’t enough. According to Datacom’s 2025 Cloud & Infrastructure Report, only half of New Zealand businesses say they’ve realised the benefits they expected from cloud – despite significant investment.

Datacom

Sponsored