Metlifecare wrestles for higher price, eyes scheme of arrangement

Mon, 23 Dec 2019

Metlifecare shares are in a trading halt after the board received an improved offer from its unnamed suitor.The board last week rejected a $6.50 per share indicative offer from its bidder, saying that its major shareholders viewed the bid as too low.Since then, the board received a new offer and has “substantially negotiated a scheme implementation agreement” that won’t be confirmed until due diligence is completed, the company said in a statement.When rejecting the offer last week, the board said it had received two other expressions of intere...

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