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Market close: Tilt takeover offer and transtasman bubble joy lift NZ sharemarket

Market close: Tilt takeover offer and transtasman bubble joy lift NZ sharemarket 19 Apr, 2021 05:40 AM 4 minutes to read Auckland International Airport climbed 35c or 4.74 per cent to $7.73 as re-opening stocks benefited from the first day of the transtasman bubble. Photo / Michael Craig Auckland International Airport climbed 35c or 4.74 per cent to $7.73 as re-opening stocks benefited from the first day of the transtasman bubble. Photo / Michael Craig NZ Herald By: Graham Skellern Auckland International Airport took a hike on the first day of the transtasman travel bubble, and a new takeover offer for Tilt Renewables also added some spice to the New Zealand sharemarket.

Tilt seeks better offer than $2 75bn renewables play backed by AGL

15 April 2021 Shares in Australian-New Zealand pure play renewable energy firm Tilt Renewables have gone into a trading halt, as the company currently the subject of an AGL Energy led takeover bid flags the potential of a more attractive offer. Last month, Tilt announced that it had agreed to an offer from a consortium led by New Zealand utility Mercury NZ, and the AGL Energybacked Powering Australian Renewables fund (Powar). The $2.75 billion takeover offer would effectively split the Tilt business between its New Zealand and Australian assets, with Powar aiming to take control of the company’s Australian portfolio, which includes the Snowtown North and Dundonnell wind farms and a big project pipeline.

Market close: NZ sharemarket falls nearly 1% ahead of ETFS activity

Market close: NZ sharemarket falls nearly 1% ahead of ETFS activity 15 Apr, 2021 05:38 AM 4 minutes to read After some steady rises over the past two weeks, both Contact and Meridian fell. Photo / Supplied After some steady rises over the past two weeks, both Contact and Meridian fell. Photo / Supplied NZ Herald By: Graham Skellern The New Zealand sharemarket was a little edgy and fell nearly 1 per cent as it awaited Friday s unique exchange traded funds activity in the leading energy stocks, Contact and Meridian. The S&P/NZX 50 Index closed at 12,636.55, down 114.83 points or 0.9 per cent on solid volume of 64.6 million share transactions worth $219.62 million. The index fell from an early morning burst that reached 12,770.83 points.

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