Shareholder tries to block Metlifecare sale

Wed, 07 Oct 2020

A shareholder has lodged an objection with the High Court to Sweden-based EQT's $1.28 billion scheme of arrangement to take over Metlifecare.Takeovers Panel chief executive Andrew Hudson confirmed the objection to the $6 per share scheme was lodged yesterday.On Friday, shareholders voted to approve the scheme. Of the shares voted, 90.7 percent were in favour and they represented nearly 70 percent of the shares on issue, more than satisfying the legal thresholds for the scheme to succeed.But nearly 15 million shares were voted against the sc...

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