Metlifecare shareholders approve sale to 'unscrupulous buyer'

Metlifecare shareholders approve sale to 'unscrupulous buyer'
Jenny Ruth
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...

More Property

Officials move on Richard Yan’s castle
Property

Officials move on Richard Yan’s castle

Richard Yan's extensive heritage property is being sold following his bankruptcy.

Tom Raynel 26 Jul 2024
Action against Hawkins directors stalled
Property

Action against Hawkins directors stalled

Proceedings by the failed group's liquidators relate to a leaky building claim.

Maria Slade 24 Jul 2024
Arvida buyout lifts retirement sector
Property

Arvida buyout lifts retirement sector

On Tuesday, Arvida traded volumes of $127 million. Its competitors followed suit.

Gregor Thompson 24 Jul 2024
The change of heart behind Arvida’s US private equity buyout
Property

The change of heart behind Arvida’s US private equity buyout

The company’s share price rose 55% after the announcement.

Gregor Thompson 23 Jul 2024