New Zealand: Metlifecare rejects EQT’s rejection of buyout deal

Glen Sowry, outgoing chief executive of Metlifecare

Metlifecare has rejected EQT’s notice to terminate its US$888m takeover of the care home operator. In mid-April, the Swedish investment firm pulled out of the deal, citing Covid-19 as a material adverse change. In a statement, Metlifecare said that it believed that there was “no lawful basis” to halt the takeover. “The fundamental assumptions that…

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