Busiest year for takeovers in a decade

New Zealand listed companies attracted strong interest from buyers in 2017, producing the highest level of takeover activity seen in the past decade, according to a new update by law firm Bell Gully.

In the fourth consecutive year of increased takeover activity in this market, eight takeovers were launched targeting NZX Main Board listed companies last year where the bidder did not already have majority control.

Not only was this the highest level of takeover activity seen in the past decade, the level of activity was approximately twice the average annual rate since the Takeovers Code came into effect in 2001.

“While the figures show a more active market than usual, the success rate was lower than previous years. This was driven by two of the takeovers being successfully contested and one failure to obtain a regulatory approval,” said partner James Cooney.

The Big Picture: Takeovers Update provides an analysis of key observations from takeovers announced in 2017.

Click here to view the full update.

About Bell Gully

Bell Gully is a full service law firm, with a team of over 200 lawyers and is consistently recognised as a leading New Zealand legal adviser in a number of independent international legal directories. They work closely with many of New Zealand’s leading companies and have expertise in a wide array of areas including market-leading corporate, commercial, financial services, tax, property and dispute resolution.

For examples of Bell Gully’s recent work follow the hyperlink below: https://www.bellgully.com/expertise

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