Business
McPherson’s kicks off Geminder defence with new CEO – The Australian Financial Review
The consumer products company has kicked off its defence of Raphael Geminder’s “opportunistic” $172 million offer by appointing a permanent CEO.
Mr Geminders private investment company Kin Group launched the unconditional on-market cash offer last week after quietly building up a 4.9 per cent stake over the last two months.
The company is expected to formally respond to the bid next week. The outcome of the operational review will be released in May.
Kin Group is implementing a hostile strategy to achieve control or partial control of the company without paying shareholders a fair premium.
Graham Cubbin, McPhersons chairman
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