Australian lender Liberty Financial has boosted its stake in Mike Pero Mortgages (MPM) to 19.9 per cent, after gaining 5.6 per cent through a stand in the market at $1.07 a share.
Liberty closed the market stand today after reaching its target of 1.412 million shares. The stand was launched on Friday.
MPM's shares were trading unchanged at $1.06 by midday today.
MPM is also the subject of a $1.05 per share takeover offer by New Zealand Finance Holdings (NZF).
MPM's independent directors have recommended shareholders should accept the deal, which falls within the 96c to $1.09 valuation range set by independent advisers Crighton Anderson Corporate Finance Ltd.
- NZPA
Liberty boosts stake in Mike Pero
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