Baycorp-Data merger still on the cards

The Auckland-based credit and financial services company says media reports that merger talks have broken down between the two parties are wrong.

Chairman Rosanne Meo says merger discussions are continuing with Australian-listed information service provider Data Advantage, and relative values of both companies are currently being assessed.

"However, there are still a number of issues that must be considered in the interests of all Baycorp shareholders.

"These are currently being worked through and we are optimistic there will be a positive outcome."

Mrs Meo says the large amount of speculation surrounding the planned merger has been unhelpful in assessing value.

"We remain committed to doing a deal based on the fundamental value of both companies."

An article in the Australian Financial Review raised the possibility that the merger may not go ahead because of disagreements over valuations.

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

Record interim profit for Baycorp
Baycorp and AIA shine in Merrill Lynch study