A couple of points that I think need clarifying (I hope I have these right)
Firstly, I would imagine that the dropping of the current legal action will be contingent on 75% of the shareholders ratifying the new Scheme of Arrangement. So there isn't a scenario where the new scheme gets voted down and the Swedes walk away scott free - the MET board (the new board presumably) can still proceed to enforce the original $7
Also, the swedes are also going to reap an unexpected, and quite significant bonus in the new deal (and one which hasn't been mentioned anywhere as far as I can see) and that is the ability for them to retain all of MET's existing carried forward tax losses so that these can be used to offset future taxable profits (should there be any taxable profits in the future) - I wonder what that is worth to them. This due to a pending IRD rule change.
https://www.ird.govt.nz/covid-19/lat...ntinuity-rules
All in all a right doing over of the MET shareholders in my opinion