Trade Me shareholders back $2.56 billion takeover offer

Wed, 03 Apr 2019

By Paul McBeth April 3 (BusinessDesk) - Trade Me Group shareholders overwhelmingly voted in favour of a $2.56 billion takeover by UK private equity firm Apax Partners, locking in an annual total return of almost 18 percent since its 2011 initial public offering. The $6.45 a share offer attracted more than 99 percent support, and 66 percent of issued stock was cast, hitting both thresholds needed in the deal's scheme of arrangement structure. The scheme requires 75 percent support and at least half the company's votes cast, as opposed...

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