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


Media: NZME 'In Discussions' To Buy Stuff

NZME confirms that it is in discussions with Stuff’s owners Nine and has put a proposal to the Government regarding a possible transaction. However, NZME notes that these discussions are preliminary... More>>

Consultation: Plan Of Action To Protect Seabirds

The draft National Plan of Action plan outlines the Government’s commitment to reducing fishing-related captures of seabirds, with clear goals and objectives, supported by an implementation plan. More>>


Housing Issues: Fairer Rules For Tenants And Landlords

The key changes include: - Limit rent increases to once every 12 months and banning the solicitation of rental bids by landlords. - Improve tenant’s security by removing a landlord’s right to use no cause terminations to end a periodic tenancy agreement... More>>


Reserve Bank: Official Cash Rate Unchanged At 1 Percent

The Monetary Policy Committee has decided to keep the Official Cash Rate (OCR) at 1.0 percent. Employment remains around its maximum sustainable level while inflation remains below the 2 percent target mid-point but within our target range... More>>


Food Prices: Avocados At Lowest Price In Almost Three Years

Avocados are at their cheapest average price since February 2017, with tomato, lettuce, and cucumber prices also falling, Stats NZ said today. More>>