Metlifecare $1.49b deal off, shares slump 17.7%

Wed, 08 Apr 2020

Shares in retirement village operator Metlifecare slumped 17.7 percent to $3.50 in early trading on the NZX this morning following notification late last night that the $1.49 billion takeover bid from European buy-out firm EQT is being called off.The deal to put the New Zealand operator together with Asia Pacific Village Group via a scheme of arrangement was pitched at $7 a share when it was announced in late December.Metlifecare was trading this morning at $3.50, down 17.7 percent on yesterday's closing price. The shares have almost halved in...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Already a Subscriber ? Sign in here.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Markets Market Close

NZ sharemarket ends flat after rate‑cut rally fades

The S&P/NZX 50 Index closed up 0.02% or 2.38 points.

Tom Raynel 09 Oct 2025

The Quiz Free

QuiznessDesk, Thursday, Oct 09

Think you're clever enough?

The Quizmaster 09 Oct 2025

Primary Sector

Why NZ's US tariff rates could rise on a whim

NZ's trade surplus with the US is likely to go up. Donald Trump won't like that.

Greg Hurrell 09 Oct 2025

Why NZ's US tariff rates could rise on a whim

Sponsored

Why New Zealand organisations need to rethink their cloud strategy

New Zealand organisations have embraced cloud computing over the past decade, but many are now confronting a sobering reality: adoption alone isn’t enough. According to Datacom’s 2025 Cloud & Infrastructure Report, only half of New Zealand businesses say they’ve realised the benefits they expected from cloud – despite significant investment.

Datacom

Sponsored