NZ's Comvita hits 4-yr low on withdrawal of takeover bid
29/05/2024 23:50
** Shares of New Zealand's Comvita CVT.NZ fall as much as
10.8% to NZ$1.650, their lowest since March 24, 2020
** Stock posts its biggest intraday percentage decline since
Feb 1
** Nature health products maker says a potential offshore
buyer has withdrawn its previously announced indicative takeover
offer for co
** Says offer had been at a "significant premium" to co's
share price
** About 36,000 shares change hands, compared with the
30-day average volume of around 12,000
** Stock down 19.6% YTD, as of last close
(Reporting by Aaditya Govind Rao in Bengaluru)
((Aaditya.govindrao@thomsonreuters.com;))
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