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...

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