Nuplex Delivers Solid Interim Result And Progresses Takeover Discussions With Allnex

Nuplex Receives NZ$5.55 Per Share Cash Proposal

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Event-Driven

On July 7, 2016, 98% of Nuplex shareholders voted in favour of the proposal from Allnex to acquire Nuplex via a scheme of arrangement. Following shareholder approval, Nuplex will apply to the New Zealand High Court for approval of the scheme, with a hearing scheduled for July 21, 2016. Nuplex continues to progress with regard to European regulatory approval, which is expected to be received in early August 2016. The implementation of the merger is scheduled for mid- to late August 2016.We recommend that investors accept the NZD 5.43 cash bid (NZD 5.55 cash offer less a NZD 0.12 dividend paid in second-half 2016). The offer was pitched at a 40% premium to our previous NZD 3.90 DCF-based fair value estimate, which was based on Nuplex’s stand-alone valuation. Analyst: Tim Mann

On July 7, 2016, 98% of Nuplex shareholders voted in favour of the proposal from Allnex to acquire Nuplex via a scheme of arrangement. Following shareholder approval, Nuplex will apply to the New Zealand High Court for approval of the scheme, with a hearing scheduled for July 21, 2016. Nuplex continues to progress with regard to European regulatory approval, which is expected to be received in early August 2016. The implementation of the merger is scheduled for mid- to late August 2016.We recommend that investors accept the NZD 5.43 cash bid (NZD 5.55 cash offer less a NZD 0.12 dividend paid in second-half 2016). The offer was pitched at a 40% premium to our previous NZD 3.90 DCF-based fair value estimate, which was based on Nuplex’s stand-alone valuation. Analyst: Tim Mann 

Nuplex Shareholders Vote in Favour of Scheme of Arrangement; Accept NZD 5.43 Offer

Nuplex Industries

Nuplex Shareholders Vote in Favour of Scheme of Arrangement; Accept NZD 5.43 Offer