Here we go, I predicted that the establishment would intervene to stop a boardroom coup over at NZME, aka New Zealand Herald. Now, the NZ Takeovers Panel is going to check out what is going on. The existing board will be complaining of collusion and that's naughty. How about, shareholders have had enough of the grift and want change - now. It is simply interests meshing, no collusion, get over yourselves Takeovers Panel.
But on Tuesday, the Takeovers Panel, which ensures shareholders have opportunity to participate in transactions such as takeovers, said the matter was under consideration. Chief executive Andrew Hudson said the panel could make no further comment.
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