Metlifecare shareholders approve sale to 'unscrupulous buyer'

Fri, 02 Oct 2020

Unsurprisingly, Metlifecare shareholders voted overwhelmingly in favour of Sweden-based EQT's $1.28 billion takeover offer.But not before questions about why a majority of the board recommended a lowball offer, why directors didn't try to negotiate a higher price and the role of the New Zealand Superannuation Fund.In particular, questions were asked about why the Super Fund's representative on the board, Carolyn Steele, abstained from making a recommendation on the offer when she had been in favour of an earlier offer from EQT. Stee...

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