Metlifecare rejects EQT’s bid to cancel acquisition

20 April 2020 - 12:00 am UTC

New Zealand retirement home operator Metlifecare today opposed EQT Infrastructure’s effort to end its NZD 1.5bn (USD 902m) acquisition of the company, saying it will forge ahead with the deal.

The Metlifecare board remains committed to the deal, the NZX-listed company’s chairman, Kim Ellis, said in a statement. While the company does not see any legal or other impediment to the deal, it is in the process of appointing a queen’s counsel to assist as it continues with the scheme implementation agreement (SIA), he added.

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