EQT notifies NZ's Metlifecare of intention to terminate takeover bid

Auckland, New Zealand. Photo by Dan Freeman on Unsplash

New Zealand’s Metlifecare on Wednesday said Swedish private equity firm EQT AB has made known its intention to terminate its buyout offer in 10 business days, citing potential impact from the coronavirus pandemic on Metlifecare.

Asia Pacific Village Group Ltd (APVG), a unit of EQT, 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.

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