Pulse Energy investors get mixed messages on board's takeover view

Fri, 27 Nov 2015

By Paul McBeth Nov. 27 (BusinessDesk) - Pulse Energy investors have been given mixed messages in a split recommendation on whether to accept a takeover bid for the electricity retailer, where three of the company's four independent directors won't take up the offer. Majority shareholder Buller Electricity, backed by Otago-based lines company Pioneer Generation, has offered 11 cents per share, $1.10 for mandatory convertible notes, and 5 cents per option in the takeover, which closes on Dec. 16, and is conditional on reaching the 90 perce...

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