Published 19 February 2006
NZ Finance Holdings Ltd has collected just over 2% more of Mike Pero Mortgages Ltd under its 14 February takeover bid.
NZ Finance (managing director John Callaghan, major investors the Huljich family) bought 54% of Pero from controlling shareholder George Gould at 82c/share in November but made it only to 55.02% when its takeover bid closed in December.
Its new bid is at $1.05/share (reduced to $1.02 for Pero’s dividend) and on Friday it said it had 57.07% of Pero. The new bid closes on Thursday 16 March.
14 February 2006: NZ Finance sends out Pero bid, reduced to $1.02 for dividend
5 February 2006: Liberty gets 10.1% of Pero
1 February 2006: NZ Finance raises Pero bid by 28%
29 January 2006: NZ Finance promises new Pero offer “in due course”
12 January: NZ Finance bid for Pero closes with 55% stake
18 December 2005: Advisor says 82c Pero bid way too light
11 December 2005: Pero bid unconditional
26 November 2005: Pero takeover bid 85% geared
19 November 2005: NZ Finance Holdings gets 54% start towards Pero takeover
Attribution: Company statement, story written by Bob Dey for this website.