Tourism Holdings awaiting final result of takeover bid

MFS Living's $2.80 a share bid was conditional on obtaining 90% acceptance, and around noon on Friday it advised the stock exchange it had reached 74.4%.

Today Tourism Holdings chief financial officer Ian Lewington said his company had yet to be told the final count of acceptances.

He had been advised the final count could take a day or two, he said.

MFS Living chief executive Marshall Vann told The New Zealand Herald on Saturday that all acceptances would be returned should the offer fail to reach 90%.

MFS would be left with a 10% stake in Tourism Holdings bought from the Cushing family.

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