Metlifecare (ASX:MEQ) $1.3 billion takeover to proceed

Company News

by Katrina Bullock

Retirement village operator, Metlifecare (ASX:MEQ) has confirmed this morning that the Takeover Panel will provide it with a ‘no objection’ statement in regards to its scheme of arrangement with Swedish company, Asia Pacific Village Group.

Asia Pacific Village Group lobbed a $6 a share offer in July which was lower than the original $7 offer it previously withdrew on the basis that the impact of Covid-19 had reduced the company’s value.

The Takeover Panel deferred its decision after one Metlifecare shareholder, Resil Investments owned by Craig Priscott, lodged a Notice of Opposition to the scheme.

The Scheme remains subject to the High Court issuing final orders at tomorrow’s hearing.