Kerr's Australasian Equity waives 90% acceptance condition

George Kerr’s Australasian Equity Partners No. 1 LP waived the 90 percent minimum acceptance condition of its takeover offer for Pyne Gould Corp and extended the closing date by two weeks.

Kerr now has an interest in 55.9 percent of Pyne Gould, according to a substantial security holder notice on Jan. 27. Today he extended the 37 cents-a-share offer, which was due to close today, until Feb. 15.

“As the 50% minimum acceptances condition has been satisfied, the offer is now unconditional as to acceptances,” Australasian Equity said in its statement.

Pyne Gould, which holds the assets left over after the finance company tipped its Marac Finance unit into Heartland New Zealand, rose 2.9 percent to 36 cents on the NZX today.

(BusinessDesk)

BusinessDesk.co.nz

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:

Regional house price inflation accelerates in October
Sanford FY earnings flat on reduced volumes
NZ dollar extends gains, aided by US-China trade doubts
12th November 2019 Morning Report
MARKET CLOSE: NZ shares gain, retirement villages buoyed by Auckland housing market bounce
NZ dollar rises, shrugging off US-China trade war woes
Long-serving ACC investment chief calls it a day
Institutional investors continue to shun Fonterra
Card spending stalls; dearer petrol crowds out other goods
Abano directors cave to takeover by scheme of arrangement