Waiting for Tenon

Tenon yesterday gave no hint about its announcement amid expectations of a second bidder for control of the company.

Rubicon has upped its takeover bid by 10c a share to $1.95 as it seeks to increase its 19.9% stake to 50.01%.

The offer is still below a valuation range assessed by independent adviser Grant Samuel of between $2.01 and $2.22 a share.

Tenon's independent directors noted that an updated Rubicon statement released on Wednesday referred to an independent report by Ferrier Hodgson on the merits of the offer, not the Grant Samuel report.

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

NZAS Sign Long Term Contracts
Amended - IFT230 Maturity and Exchange for IFT350
Synlait forecast milk price update
Chorus submits 2023 fibre regulatory report
Infratil Infrastructure Bond Exchange Offer opens
May 31st Morning Report
NZAS and Mercury sign long-term agreement, creating opportunity for future investment in renewables
Meridian and NZAS sign long term contracts
ArborGen Holdings Results for Year Ended 31 March 2024
BAI - Full unaudited results to 31 March 2024