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Hunter Hall to tell shareholders to back merger

Monday, March 13th 2017, 9:20PM

Hunter Hall says its board will recommend shareholders vote in favour of a merger with Pengana, subject to no better offer emerging.

It was announced on March 9 that Hunter Hall had entered an agreement to acquire all the issued share capital of Pengana, in return for an issue of Hunter Hall shares.

Each Pengana shareholder would receive 120.2 Hunter Hall shares for every one Pengana share.

Hunter Hall shareholders would own about 27% of the issued equity, and Pengana shareholders 73%.

The combined entity would have more than $3 billion in funds under management.

In February, Pinnacle announced its intention to vary its takeover offer to acquire Hunter Hall, with an unconditional offer price of $2 per share or a conditional price of $2.40 provided Pinnacle gets to 24% before 7pm on March 15.

Tags: Hunter Hall

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Lender Flt 1yr 2yr 3yr
ANZ 5.79 4.99 5.29 5.49
ANZ Special - 4.49 4.79 -
ASB Bank 5.80 4.99 5.14 5.49
ASB Bank Special - 4.59 4.74 5.09
BankDirect 5.80 4.99 5.14 5.49
BankDirect Special - 4.59 4.74 5.09
BNZ - Mortgage One 6.50 - - -
BNZ - Rapid Repay 5.95 - - -
BNZ - Special - 4.59 4.79 5.09
BNZ - Std, FlyBuys 5.90 4.99 5.19 5.49
BNZ - TotalMoney 5.90 - - -
Lender Flt 1yr 2yr 3yr
Credit Union Auckland 6.70 - - -
Credit Union Baywide 5.95 4.99 5.25 -
Credit Union North 6.45 - - -
Credit Union South 6.45 - - -
Finance Direct - - - -
First Credit Union 5.85 - - -
Heartland 6.70 7.00 7.25 7.85
Heretaunga Building Society 5.75 5.00 5.20 -
Housing NZ Corp ▲5.79 ▲4.99 ▼5.14 5.49
HSBC Premier 5.79 4.19 4.39 4.89
HSBC Premier LVR > 80% - - - -
Lender Flt 1yr 2yr 3yr
HSBC Special - - - -
ICBC 5.70 4.59 4.69 5.09
Kiwibank 5.55 5.09 5.19 5.65
Kiwibank - Capped - - - -
Kiwibank - Offset 5.55 - - -
Kiwibank Special - 4.69 4.79 5.25
Liberty 5.69 - - -
Napier Building Society - - - -
Nelson Building Society 6.10 5.10 5.45 -
NZ Home Loans 5.80 4.99 5.14 5.49
NZ Home Loans - Specials - - - -
Lender Flt 1yr 2yr 3yr
NZ Home Loans - Specials - 4.59 4.74 5.09
Resimac 5.00 4.86 4.75 5.30
SBS Bank 5.79 4.99 5.19 5.49
SBS Bank Special - 4.59 4.79 5.25
Sovereign 5.90 4.99 5.14 5.49
Sovereign Special - 4.59 4.74 5.09
The Co-operative Bank - Owner Occ 5.65 4.59 4.85 5.25
The Co-operative Bank - Standard 5.65 5.09 5.35 5.75
TSB Bank 5.65 4.80 5.15 5.45
TSB Special - 4.55 4.75 5.15
Wairarapa Building Society 5.70 4.85 4.99 -
Lender Flt 1yr 2yr 3yr
Westpac 5.84 4.99 5.19 5.49
Westpac - Capped rates - 5.15 5.25 -
Westpac - Offset 5.84 - - -
Westpac Special - 4.59 4.79 5.09
Median 5.80 4.93 5.14 5.38

Last updated: 20 April 2017 2:30pm

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