NZ's Metro Performance Glass eyes best day in 4-1/2 years on $8.6 mln takeover bid

Metro Performance Glass

17/12/2024 02:19

** Shares of Metro Performance Glass  MPG.NZ  rise 22.6% to
NZ$0.065, set for their best session since early-June 2020, if
gains hold
    ** Stock hits its highest level since Oct 22
    ** The New Zealand-based glass window manufacturer receives
an unsolicited non-binding proposal from pvt firm CCP VI Bidco
    ** Cash deal valued at NZ$14.8 mln ($8.55 mln)
    ** Offer price of NZ$0.08 per share is at a 50.9% premium to
stock's last closing price of NZ$0.053
    ** More than 208,000 shares change hands vs 30-day avg
volume of around 102,000 shares
    ** Stock down 53.9% YTD, including current session's moves
    

    ($1 = 1.7304 New Zealand dollars)

 (Reporting by Nikita Maria Jino in Bengaluru)
 ((Nikita.Jino@thomsonreuters.com;))