Met Life offer on
PA Wellington Met Life Group shareholders will receive offer documents this week from FAI Investments (N.Z.) giving details of FAl’s bid for 100 per cent of Met Life. Last week the trading and investment company’s directors unanimously recommended the offer to shareholders and advised the takeover had been approved by the Commerce Commission
and the Overseas Investment Commission. A condition of the offer, that shareholders representing 51 per cent of Met Life’s capital accept the offer, had also been met. The offer price of 185 c a share is ex the 5c dividend paid on September 30, giving an effective consideration of 190 c each. The offer values the company at around 890 million.
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Press, 7 October 1988, Page 13
Word Count
118Met Life offer on Press, 7 October 1988, Page 13
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