Tenon applies to return $100mn to shareholders if US sale goes ahead

Thu, 13 Oct 2016

By Sophie Boot Oct. 14 (BusinessDesk) - Taupo-based wood processor Tenon has applied to the High Court for orders to seek shareholder approval to return $100 million in capital through a share cancellation, as part of Blue Wolf Capital's potential acquisition of its US business. The US$110 million offer from the New York-based private equity firm is pending shareholder approval at the company's annual meeting on Nov. 18. Full details of the proposed sale and capital return and an independent report from Grant Samuel will be distributed to...

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