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Takeover denied

Posted on 25 June, 2015

Heartland New Zealand (HNZ) says it’s not currently participating in any process to acquire the Fisher and Paykel (F&P) Finance group of companies.

In a statement to the NZX, it refers to recent media speculation that it is a candidate to do so.

HNZ adds it will continue to investigate “potential acquisition opportunities” that meet its strategic objectives and assess “possible capital management options to improve return on equity”.

As previously advised to the market, HNZ expects net profit after tax for the financial year ending June 30 to be at the upper end of its forecast range of $46-$48m.