The High Court ordered that a meeting of NZ Windfarms (NZE:NWF) shareholders be held to decide on the company's proposed acquisition by Meridian Energy (ASX:MEZ, NZE:MEL), via a scheme of arrangement for NZ$0.25 cash per share, according to a Monday filing with the New Zealand bourse.
NZ Windfarms's board of directors recommends shareholders vote in favor of the scheme, subject to the absence of a superior proposal and the belief that the scheme is in the best interests of shareholders, the filing said.
The scheme meeting is scheduled for June 24, the filing said.
If approved by shareholders, the Scheme will proceed to a final hearing at Auckland's High Court on July 16.
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