A bid by Sir Michael Hill’s family for a partial takeover of the company he founded has attracted strong interest from other Michael Hill International shareholders.
Durante Holdings is the holding company for the 47.63% of shares in Michael Hill International (MHI) currently held by interests associated with Mr Hill.
It has offered 90c a share for 10.03 million MHI shares, which would increase its holding to 50.2%.
Durante announced today its partial takeover offer has met all the requirements of the offer and is now unconditional.
The offer, which closes today, had received acceptances for 12,136,499 shares as of this morning at 10.30am.
As a result of acceptances exceeding the number of shares sought, scaling will be undertaken in accordance with the offer document.
This article is tagged with the following keywords. Find out more about MyNBR Tags
- NZ On Air announces a 'platform-neutral' funding future
- Mortgage rates have bottomed, regardless of further OCR cuts
- Sky will take a gamble and put Westworld, aka 'the next Game of Thrones' on Neon
- Warminger stood to gain significant bonus, court hears
- 'Real housewife' lawyers up, accuses Devoy of bullying, defamation
Most listened to
- FMA counsel Justin Smith QC described Mr Warminger’s background and the pressure he was under to perform
- Media Snapchat: NBR’s Nick Grant ponders the Human Rights Commission’s role in RHOAKL racism row
- ASB's Jane Turner discusses what's behind NZ's widest month trade deficit
- Kathmandu's Xavier Simonet and Reuben Casey talk through the retailer's results.
- BNZ's Kymberly Martin and Massey University's David Tripe on mortgage rates.