Metro Performance Glass (Metro Glass) has clarified the statements made by Crescent Capital Partners regarding its interest in pursuing a conditional proposal and seeking Commerce Commission clearance.
In a media article on March 13, Crescent Capital expressed its intention to progress with the proposal.
However, Metro Glass reiterated its position that it has ended consideration of the proposal.
The company said it does not believe it is in the best interests of Metro Glass or its shareholders to further engage with Crescent Capital.
Metro Glass directors cited high transaction-related risks, the unlikelihood of Commerce Commission approval, and the potential for significant distraction as reasons for their decision.
They also emphasised the importance of pursuing valid options while focusing on performance improvement.
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