NZSA to 'reluctantly' vote in favour of Metlifecare litigation

Thu, 02 Jul 2020

The New Zealand Shareholders' Association is going to vote in favour of Metlifecare's litigation aimed at forcing Sweden's EQT to proceed with its $1.5 billion takeover offer, even though it has "reservations" about the action. EQT and its Asia Pacific Village Group unit announced they were pulling out of the deal in April, citing the impact of the covid-19 pandemic on Metlifecare's prospects. But Metlifecare's directors have said this is an invalid termination of their agreement with EQT. The company is asking shareholders to vote on...

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