Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Tranz Rail response to latest Toll Holdings offer

Tranz Rail response to latest Toll Holdings offer

Auckland, New Zealand - Tranz Rail Holdings Limited {NZX: TRH}

The board of Tranz Rail today confirmed they had received a renewed take-over offer from Toll Holdings.

Board chairman Wayne Walden said the key point he would like to make to shareholders is that the previous Toll offer and the Target Company Statement (dated 7 July) sent out by Tranz Rail have been overtaken by these latest events and therefore are no longer relevant to the current circumstances.

"This is an entirely new take-over offer and so all previous communication on past offers should be ignored.

"The board of Tranz Rail will now consider this offer and have asked Grant Samuel & Associates to carry out a new appraisal on this latest bid.

"Once that report is received, which will be later this month then the company will communicate with shareholders.

"The Tranz Rail board will then make a recommendation focused on the best interest of the company and shareholders," said Mr Walden.

© Scoop Media

Business Headlines | Sci-Tech Headlines


Voluntary Administration: Renaissance Brewing Up For Sale

Renaissance Brewing, the first local company to raise capital through equity crowdfunding, is up for sale after cash flow woes and product management issues led to the appointment of voluntary administrators. More>>


Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>


Media Mega Merger: Full Steam Ahead For Appeal

New Zealand's two largest news publishers have confirmed they are committed to pursuing their appeal against the Commerce Commission's rejection of the proposal to merge their operations. More>>

Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>


Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>