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:

PYS - PaySauce to announce F26 full year results on 27 May 2026
PEB - Draft LCD Proposes Medicare Coverage for Triage and Triage
MEL - Meridian Energy monthly operating report for April 2026
FBU - Sale of South Australian property
AIR - Air New Zealand market update
May 14th Morning Report
PEB - Pacific Edge Placement Increased to NZ$25.4 Million
Radius Care Reports Earnings Growth and 50% Higher Dividend
May 13th Morning Report
Pacific Edge launches capital raise of NZ$24 million