Radio New Zealand says this morning that MFS Living & Leisure is edging towards full control of Tourism Holdings Ltd and now holds acceptances for almost 62.5% of the company.T
he Australian group has already obtained the tourism company’s largest shareholders, Sterling Grace and Alliance Bernstein, while Forsyth Barr has changed its mind and recommended shareholders back the deal.
MFS has until Saturday to secure the 90% it needs.
Fund Manager Tower Asset Management, which holds 5% of Tourism Holdings, has already rejected the deal, saying the company is worth more than MFS is offering.
Report by The Mole
