NZ’s Metlifecare notified of buyer’s intention to terminate takeover bid

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April 8 (Reuters) – New Zealand’s Metlifecare on Wednesday said Swedish private equity firm EQT AB’s unit had made known its intention to terminate its buyout offer in ten business days, citing potential impact from coronavirus on Metlifecare.

Asia Pacific Village Group Limited (APVG) in December had sweetened its bid for the retirement village operator to NZ$1.49 billion at NZ$7 per share, NZ$0.50 richer than its earlier bid.

The New Zealand firm however stated that APVG does not have a lawful basis to terminate the scheme agreement.

Reporting by Shreya Mariam Job in Bengaluru
Editing by Chris Reese

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