It means nothing new. The consortium that has put forward the bid declare their holding - I am surprised they say they can vote in favour of their proposal. I am not familiar with NZ takeover rules but I would think the bidder should be excluded from voting. The real question is what will the remaining big shareholders do. As I tiny shareholder I would vote no, and based on the comments of others here, they will do the same, but we are probably too small to count.
PPH Price at posting:
$1.17 Sentiment: Hold Disclosure: Held
