New Oyster Bay takeover date

The drawn-out takeover battle for Oyster Bay Marlborough Vineyards will play out until at least the end of the month, after the High Court set a fresh date to hear the case.

A hearing was held in the High Court in Wellington to determine whether Oyster Bay's target company statement breached the Takeovers Code by omitting information that could be material to shareholders.

But Justice Forrest Miller dismissed the Takeovers Panel's application for final orders to be made and instead set aside November 28 for another hearing.

He wants additional valuation and grape price information to be presented to the court.