Waiting for Tenon

Tenon yesterday gave no hint about its announcement amid expectations of a second bidder for control of the company.

Rubicon has upped its takeover bid by 10c a share to $1.95 as it seeks to increase its 19.9% stake to 50.01%.

The offer is still below a valuation range assessed by independent adviser Grant Samuel of between $2.01 and $2.22 a share.

Tenon's independent directors noted that an updated Rubicon statement released on Wednesday referred to an independent report by Ferrier Hodgson on the merits of the offer, not the Grant Samuel report.

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:

April 1st Morning Report
FSF - Fonterra completes sale of Mainland Group to Lactalis
GNE - Resignation of Chief Financial Officer
PFI - Property for Industry Limited Launches Bond Offer
March 30th Morning Report
HGH Ltd Results for the 6 months ended 1 February 2026
March 27th Morning Report
CDC investor presentation and guidance update
PFI - Potential Bond Offer by PFI
MCY - Mercury Green Bond offer - interest rate set