Metro's view of Viridian's Com Com application

The NZ Commerce Commission has today published an application by Viridian NZ BidCo Limited (a company managed by Crescent Capital) for clearance to acquire Metro.

Without commenting on the merits of the application or detailing all of the issues contained within, Metro considers that a number of the statements and implications in the application offer a misleading view of the glass industry in New Zealand, as well as Metro’s own position and outlook. In addition, a considerable number of specific claims and statements made in the application are not consistent with Metro’s own data and industry feedback. It is also noteworthy that the applicant ignores the significant contribution and positive outlook of Metro’s Australian subsidiary AGG.

As announced on 28 February, Metro’s directors remain of the view that it is not in the interests of the company or shareholders to engage with Crescent on its highly conditional proposal for the reasons then outlined. Please refer to that announcement for further info www.nzx.com/announcements/447645.

ENDS

• Metro's view of Viridian's Com Com application

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:

July 29th Morning Report
General Capital Annual Shareholders Meeting Results
MEE - Receivers and Liquidators appointed to King Honey
2 Cheap Cars Group Updates Performance Outlook for FY26
Spark announces Director changes as part of Board renewal
July 28th Morning Report
KMD Brands announces new Group Chief Financial Officer
Commerce Commission to issue SOI re Viridian application
FBU - Moody's affirms FBU Baa3/stable rating
Contact Energy FY25 Financial Results Presentation