Offeror(s): Cerebos New Zealand Limited

Independent Adviser(s): Northington Partners Limited (rule 22), Grant Samuel & Associates (rule 21)

Offer Date: 08/11/2011

Closing Date: 22/11/2011

Offer Type: Full

Transaction summary:

On 14 October 2011, Cerebos (New Zealand) Limited (“Cerebos”) issued a takeover notice to Comvita Limited (“Comvita”) indicating its intention to make a full takeover offer for all the equity securities on issue for Comvita.

The takeover offer was made on 8 November 2011, with Cerebos offering $2.50 cash per ordinary share and between $0.39 and $1.33 in cash for each redeemable share, depending on the date of issue.

In the target company statement, the Comvita independent directors recommended that shareholders reject the offer from Cerebos.

The offer lapsed on 22 December 2011.  

We have not received consent to publish other documents in relation to this transaction on our website. However, copies of these documents are available upon request to the Panel under the Official Information Act 1982. Please send your written Official Information requests to takeovers.panel@takeovers.govt.nz