Asia Pacific Village Group lobs new offer to buy Metlifecare (ASX:MEQ)

Company News

by Katrina Bullock

Retirement village owner and operator, Metlifecare (ASX:MEQ, NZX:MET) has penned a scheme of arrangement under which Asia Pacific Village Group will purchase all of its shares for $7.00 per share.

The Metlifecare Board unanimously recommends shareholders vote in favour of the transaction, subject to a number of conditions, including that the scheme price being within the valuation range specified by an independent adviser.

Metlifecare shareholders do not need to take any action at this time. They will be given the opportunity to vote on the scheme at a special meeting of shareholders, currently expected to be held in April 2020.

The price of $7.00 represents a 38 per cent premium to the closing price prior to the announcement of the initial offer.

Katrina Bullock

Finance News Network
Katrina is a respected TV journalist, as well as a renowned presenter and award winning lawyer. She holds a Bachelor of Laws (Honours 1st class, division 1), a Bachelor of Business (with Distinction) and is currently undertaking a PhD in Law focused on stock exchange disclosures and corporate governance. She began her career as a corporate lawyer in an Australian top tier commercial law firm and is currently the General Counsel of Greenpeace Australia Pacific. In 2020 Katrina was named one of the 30 best lawyers in Australia under 30 by Lawyer's Weekly.