OIC Consent To Fielder Acquisition Of Ernest Adam
OIC Consents To Goodman Fielder Acquisition Of Ernest Adams
The New Zealand Overseas Investment Commission has advised Goodman Fielder that it has consented to the proposed acquisition of Ernest Adams.
A Standing Committee of the New Zealand Stock Exchange Market Surveillance Panel has also ruled that Goodman Fielder has not breached any listing rules in its offer for Ernest Adams.
Commercial group, Managing Director, Doug McKay, said the OIC decision clears regulatory conditions for the Goodman Fielder acquisition of Ernest Adams.
"We are pleased to have OIC consent to the proposed acquisition of Ernest Adams," Mr McKay said.
"All we need now to complete the acquisition is for Ernest Adams shareholders who have not yet done so to complete their acceptance forms as quickly as possible.
"We believe our offer is compelling and should be acceptable to all shareholders."
Goodman Fielder requires acceptances from shareholders for 90 per cent of the shares in Ernest Adams to complete the acquisition and has already received acceptances for over 82 per cent of Ernest Adams shares.