Why it matters: Pact Group is one of the largest packaging companies in Australia.
Rich Lister Raphael Geminder owned 50.02 per cent before making a 68¢ per share bid to buy the rest of it.
His Kin Group entity is annoyed at the valuation of $1.06 to $1.51 put on Pact by an independent expert.
Rich Lister Raphael Geminder’s Kin Group, which is attempting to buy out the other half of troubled packaging company Pact, has lashed out at an independent expert’s report that labelled the offer “neither fair nor reasonable”.
Kin Group, in a second bidder’s statement, accused independent expert Kroll Australia of producing an unbalanced valuation of Pact which “has the potential to mislead”.
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Simon Evans writes on business specialising in retail, manufacturing, beverages, mining and M&A. He is based in Adelaide. Connect with Simon on Twitter. Email Simon at simon.evans@afr.com
