Guinness Peat Group, the British-based investment holdings company in the throes of winding down, says shareholders have been targeted by serial discount-buyer Zero Commission.
In a note to the NZX, GPG said it was aware Zero Commission had written to a number of shareholders and in one letter was offering 47c a share. GPG shares were valued at 51c on the NZX this morning.
GPG said it did not endorse the offer and advised shareholders to seek professional advice before making any response.
The offer follows numerous lowball bids by Zero Commission for shares in other companies.
Yesterday GPG reported a $70 million loss for the six months ending June 30.
It has also advised it has approved a revised takeover offer by private-equity-led consortium Crescent for its 47.3 per cent shareholding in Australian financial services provider ClearView Wealth. GPG stands to make A$122m (NZ$158m) on the deal.
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