Shares of Metro Performance Glass Rise on New Zealand's Commerce Commission Update on Viridian Bid

MT Newswires Live
Yesterday

Shares of Metro Performance Glass (ASX:MPP, NZE:MPG) rose in recent Friday trade after New Zealand's Commerce Commission said in a statement on Thursday that it had identified potential competition concerns regarding Viridian NZ Bidco's proposed acquisition of up to 100% of Metro's shares, either through a takeover offer or scheme of arrangement.

The company's shares gained around 2% on the New Zealand Stock Exchange, while holding steady on the Australian Securities Exchange in recent Friday trade.

The statement flags potential competition concerns from the initial investigation, but it is not a final decision on the merger's approval, the filing said.

The commission has invited submissions from Viridian, Metro, and other interested parties, and extended its decision deadline from July 28 to Oct. 20, with a further extension possible if more information is needed to assess potential competition impacts, the filing added.

Crescent Capital Partners, the fund manager of the funds that own Viridian NZ Bidco, did not immediately respond to a request for comment from MT Newswires.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10