High Court dismisses Taranaki group’s attempt to block TSB sale to Heartland
A Taranaki community group's bid to stop TSB Bank's $620 million sale to Heartland Bank has been rejected by the Wellington High Court.
The High Court has dismissed an interim injunction application by Taranaki Community Accountability Society seeking to halt the proposed merger of TSB Bank and Heartland Bank. The $620 million transaction between TSB's owner Toi Foundation and Heartland Group Holdings still has a few regulatory hurdles to clear before completion. Kiwi Group Capital, the owner of Kiwibank, made a competing offer for TSB in the eleventh hour, but Toi Foundation proceeded with its decision to accept the Heartland deal.
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NZ Herald
Taranaki locals lose High Court battle to block TSB sale to Heartland
There are a few more hurdles that need to be cleared before the transaction takes effect.
BusinessDesk
Court dismisses case to stop TSB Bank-Heartland Bank merger
The Wellington High Court has dismissed an interim injunction from Taranaki Community Accountability Society that sought to stop a proposed $620 million merger of TSB Bank and Heartland Bank. In June, Heartland Group said it had agreed to the proposed…
interest.co.nz
High Court attempt to block TSB sale fails
Taranaki community group's interim injunction application against the sale of TSB to Heartland Group dismissed
Newstalk ZB
Kiwibank makes eleventh hour push to buy TSB, as community efforts to stall the bank’s sale to Heartland fail in court
Kiwi Group Capital is making an eleventh hour push for TSB’s owner to consider its “superior” offer to buy the bank, before selling it to Heartland Group Holdings.
BusinessDesk
Kiwi Group Capital says it has superior TSB Bank proposal
Kiwi Group Capital has upped the ante for already-under-offer TSB Bank by saying it has a superior offer for the deposit taker’s owner, Toi Foundation, to consider. Toi is set to decide on a proposed $620 million tie-up with Heartland…
NZ Herald
Toi Foundation to proceed with selling TSB to Heartland, ignoring bid from Kiwibank’s owner
Did Kiwibank ever make a proper offer?