Michael Hill takeover offer attracts strong interest

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 My Tags

1 Comment & Question

Commenter icon key: Subscriber Verified

Dumb ar$es. and those taking the opportunity to exit will be scaled back leaving them with unmarketable parcels.

Reply
Share

Post New comment or question

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.

NZ Market Snapshot

Forex

Sym Price Change
USD 0.8012 0.0052 0.65%
AUD 0.9077 0.0006 0.07%
EUR 0.6252 0.0028 0.45%
GBP 0.4952 0.0024 0.49%
HKD 6.2173 0.0415 0.67%
JPY 85.2240 0.1390 0.16%

Commods

Commodity Price Change Time
Gold Index 1244.2 5.700 2014-10-20T00:
Oil Brent 85.4 -0.760 2014-10-20T00:
Oil Nymex 82.8 -0.040 2014-10-20T00:
Silver Index 17.3 0.020 2014-10-20T00:

Indices

Symbol Open High Last %
NZX 50 5197.9 5238.9 5197.9 0.68%
NASDAQ 4254.2 4316.9 4258.4 1.35%
DAX 8819.3 8834.7 8850.3 -1.50%
DJI 16373.1 16401.6 16380.4 0.12%
FTSE 6310.3 6320.3 6310.3 -0.68%
HKSE 23073.4 23231.5 23070.3 -0.25%
NI225 15115.3 15115.3 15111.2 -1.66%