
Merger in pipeline for industrial investors
A Property For Industry investor is waiting for more information on a proposal to almost double the size of the $382.2 million NZX-listed business.
A Property For Industry investor is waiting for more information on a proposal to almost double the size of the $382.2 million NZX-listed business.
Brokers and analysts are predicting a strong take-up of Mighty River Power shares as the offer opens to the public today.
The proof will be in the pudding for the Government next week as the Mighty River Power share offer officially opens to the public on Monday. It's hard to know how many of the 440,000 people who pre-registered will buy shares.
Crucial face-to-face talks between the owners of the Tiwai Point aluminium smelter and Meridian Energy resume in Wellington today, and could take the rest of the week.
Market players are divided over the attractiveness of Mighty River Power's bonus scheme and say it's hard to know if it will encourage investors to keep hold of their shares.
A startling aspect of the 73 per cent pay rise for directors of Mighty River Power is that John Key says it is "realistic" and "sensible" to do it now, writes Judy McGregor, before the company is listed on the sharemarket next month.
The Government has set a price range of $2.35 to $2.80 per share for the partial privatisation of Mighty River Power.
Mighty River Power directors are to get a 73 per cent pay rise, it has been confirmed ahead of the release of offer documents for the company's partial float tomorrow.
The Government and its flagship asset sale programme will not be held hostage by Rio Tinto over the mineral giant's threat to close the Tiwai Point aluminium smelter, Prime Minister John Key said yesterday.
Negotiating with Hollywood moguls must now feel like a bit of a doddle for John Key compared to mixing it with the cold-blooded, razor-wielding gang of cost accountants from Rio Tinto.
The Tiwai Pt power price stoush will probably have a small negative effect on the price of Mighty River - but it's not a showstopper say sharemarket analysts.
The Government has opened discussions with Tiwai Point aluminium smelter's ultimate owners Rio Tinto in a bid to broker a deal after talks between the smelter and Meridian Energy reportedly broke down.
Tiwai Pt aluminium smelter's owners have contradicted a report from Meridian, saying they think a power deal can be agreed on.
Former Solid Energy chief executive Don Elder will pocket more than $250,000 from the indebted state-owned miner while he remains on its payroll for another four months.
I can't get excited about the Mighty River share float either as an investor or as an economist, writes Peter Lyons. NZers are being given a chance to buy shares in businesses that all of us already own.
Almost one in five New Zealanders who oppose the partial sale of Mighty River Power intend buying shares in the company anyway.
Labour and its leader David Shearer have had a boost in support in the latest Herald-DigiPoll survey - but it appears to have come at the expense of its potential coalition allies.
More than 400,000 people have pre-registered their interest in buying Mighty River Power shares before the process closes at 5pm on Friday.
Shares in Mighty River Power are likely to cost between $2.36 and $2.75, according to estimates based on a raft of pre-marketing research reports released by major broking firms.
A flurry of last-minute pre-registrations for Mighty River Power shares is expected ahead of the Friday close-off.
Transparency and engagement are important ingredients in building a successful business that serves the needs of all stakeholders, writes Paul Glass.
Mighty River Power chairwoman Joan Withers has a formidable reputation for being one of the best communicators in business.
Editorial: Two recent events ought to have injected some urgency into the quest for cleaner, fairer and better use of New Zealand's most valuable resource, water.
Former Solid Energy chairman John Palmer has told MPs he opposed the Government's 2009 direction that the state owned coal miner take on more debt.
The record number of pre-registrations for Mighty River Power shares shows there is strong appetite for well-structured businesses, says one fund manager.
Government ministers urged Solid Energy to take on more debt and to pay bigger dividends despite company warnings that falling coal prices threatened profitability.