A shareholder vote to approve a takeover bid for Comvita has not gathered enough votes to proceed.
The bid from Florence to buy Comvita at 80 cents a share required 75% support from shareholders to go through.
Although the official vote count has not been released, we know that the numbers fall short of the margin.
Octagon Chief Investment Officer Paul Robertshawe told Heather duPlessis-Allan that anything is possible going forward, however it’s unlikely that Florence will raise their offer.
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Heather du Plessis-Allan Drive