Nuplex: $1billion Allnex takeover and de-listing
Situation: Nuplex, a global chemical company specialising in coating resins with operations located across Europe, Asia, Australia and New Zealand, and North America, was the oldest listed company in New Zealand and had a large proportion of retail investors. The company received a proposal from Allnex, a leading global coating resins producer, to acquire all of its shares via a scheme of arrangement. The challenge was to reach a threshold of support from institutional and retail investors for the transaction to go through.
Solution: Proactive and thorough communications planning ensured investors understood the benefits of the takeover, and the many other things they needed to consider. We also worked extensively with media to ensure they understood the technicalities of the process Nuplex was undergoing because it was a New Zealand first for a major transaction.
Results: Threshold of support from investors was met and the transaction ran smoothly. Allnex purchased all shares in Nuplex on September 14 2016.