Two companies to battle it out for Rea Vipingo after High Court ruling

Rea Vipingo shareholders will now choose between two takeover bids after the High Court upheld the Capital Markets Authority decision to lock out an offer from Vania Limited for being time-barred.

Vania had placed the highest bid of Sh80 per share for the sisal grower, but submitted it on March 11, almost a fortnight after CMA’s February 28 deadline.