BUZZ-NZ's Bremworth falls on indicative shareholder dissent against buyout

Mohawk Industries, Inc.
Saba Capital Income & Opportunities Fund

Mohawk Industries, Inc.

MHK

0.00

Saba Capital Income & Opportunities Fund

BRW

0.00

** Shares of Bremworth BRW.NZ fall as much as 15.7% to NZ$0.75, their lowest level since June 30

** Stock set for weakest intraday trading session since August 12, 2020

** Largest shareholder for rug and carpet firm, collectively representing 19.413% of shares held in co, indicated they intend to vote against proposed scheme of arrangement with Floorscape

** Scheme of arrangement refers to Mohawk Industries' MHK.N unit buying all shares of co

** Separate shareholder with 2.4% holding of co's shares also intends to vote against scheme

** Around 134,388 shares change hands, 3.3x the 30-day average volume

** Stock down 0.7% YTD, including the session's moves


This page is machine-translated. Sahm tries to improve but does not guarantee the accuracy and reliability of the translation, and will not be liable for any loss or damage caused by any inaccuracy or omission of the translation. *Disclaimer: The above content only represents the author's personal position and opinion and does not represent any position of Sahm Capital Financial Company and Sahm cannot confirm the authenticity, accuracy, and originality of the above content. Investors should consider the risks of investment products in light of their circumstances before making any investment decisions. When necessary, please consult a professional investment advisor. Sahm does not provide any investment advice, nor does it make any commitments and guarantees.