Nine jumps on remaining Macquarie stake for $113.9m
Wilson Asset Management chairman Geoff Wilson has criticised the board of Macquarie Media for recommending Nine's proposal to mop up the minority shareholders at a big discount to the most recent closing price.
Macquarie chairman Russell Tate defended the decision, conceding that an offer below the market price is unusual, but arguing that there are a number of factors in this deal which are not typical of a standard takeover.
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