6-factor model estimating acquisition likelihood for NZX-listed companies based on valuation, governance, insider activity, and M&A history
| Sector | Companies | Avg Score | High/Elevated | Distribution |
|---|---|---|---|---|
| Energy | 1 | 50 | 1 | |
| Communication Services | 4 | 49 | 2 | |
| Information Technology | 7 | 48 | 2 | |
| Consumer Discretionary | 15 | 46 | 2 | |
| Financials | 22 | 46 | 4 | |
| Industrials | 23 | 46 | 3 | |
| Real Estate | 16 | 46 | 2 | |
| Healthcare | 12 | 46 | 2 | |
| Materials | 10 | 46 | 1 | |
| Utilities | 7 | 46 | 0 | |
| Consumer Staples | 14 | 45 | 0 |
Ranked by composite takeover probability score. Based on 6-factor model covering valuation, insider activity, board stability, governance, capital structure, and M&A history.
| # | Ticker | Company | Sector | Score | Rating | Top Signal |
|---|---|---|---|---|---|---|
| 1 | NZM | NZME Limited | Communication Services | 55 | Elevated | Insider Activity |
| 2 | SKC | SkyCity Entertainment Group Limited | Consumer Discretionary | 55 | Elevated | Undervaluation Signal |
| 3 | LOC | Locate Technologies Limited | Information Technology | 53 | Elevated | Undervaluation Signal |
| 4 | TAH | Third Age Health Services Limited | Consumer Discretionary | 53 | Elevated | Undervaluation Signal |
| 5 | CO2 | Carbon Fund | Financials | 52 | Elevated | Undervaluation Signal |
| 6 | CVT | Comvita Limited | Industrials | 52 | Elevated | Insider Activity |
| 7 | PLP | Private Land and Property Fund | Real Estate | 52 | Elevated | Undervaluation Signal |
| 8 | VHP | Vital Healthcare Property Trust | Real Estate | 52 | Elevated | Insider Activity |
| 9 | BAI | Being AI | Healthcare | 51 | Elevated | Undervaluation Signal |
| 10 | BIF | Booster Innovation Fund | Financials | 51 | Elevated | Undervaluation Signal |
| 11 | FCT | F&C INVESTMENT TRUST PLC | Financials | 51 | Elevated | Insider Activity |
| 12 | TRU | TRUSCREEN GROUP LIMITED | Industrials | 51 | Elevated | Undervaluation Signal |
| 13 | TWL | TradeWindow Holdings Limited | Industrials | 51 | Elevated | Undervaluation Signal |
| 14 | CHI | Channel Infrastructure NZ Limited | Energy | 50 | Elevated | Insider Activity |
| 15 | FBU | Fletcher Building | Materials | 50 | Elevated | Undervaluation Signal |
| 16 | LIC | Livestock Improvement Corporation Limited | Financials | 50 | Elevated | Undervaluation Signal |
| 17 | RYM | Ryman Healthcare Limited | Healthcare | 50 | Elevated | Undervaluation Signal |
| 18 | SPK | Spark New Zealand Limited | Communication Services | 50 | Elevated | Insider Activity |
| 19 | VGL | Vista Group International Limited | Information Technology | 50 | Elevated | Undervaluation Signal |
| 20 | AFI | Australian Foundation Investment Company Limited | Financials | 49 | Moderate | Insider Activity |
| 21 | ARB | ArborGen Holdings Limited | Industrials | 49 | Moderate | Undervaluation Signal |
| 22 | ENS | Enprise Group Limited | Information Technology | 49 | Moderate | Undervaluation Signal |
| 23 | ERD | EROAD | Industrials | 49 | Moderate | Undervaluation Signal |
| 24 | FCG | Fonterra Co-operative Group Limited | Consumer Staples | 49 | Moderate | Insider Activity |
| 25 | FSF | Fonterra Shareholders' Fund | Consumer Staples | 49 | Moderate | Undervaluation Signal |
| 26 | GEN | General Capital Limited | Financials | 49 | Moderate | Undervaluation Signal |
| 27 | GXH | Green Cross Health Limited | Healthcare | 49 | Moderate | Undervaluation Signal |
| 28 | IFT | Infratil Limited | Utilities | 49 | Moderate | Insider Activity |
| 29 | IPL | Investore Property Limited | Real Estate | 49 | Moderate | Undervaluation Signal |
| 30 | KMD | KMD Brands Limited | Consumer Discretionary | 49 | Moderate | Undervaluation Signal |
| 31 | RGI | Rua Gold Inc | Materials | 49 | Moderate | Undervaluation Signal |
| 32 | RUA | Rua Bioscience Limited | Healthcare | 49 | Moderate | Undervaluation Signal |
| 33 | SDL | Solution Dynamics Limited | Consumer Discretionary | 49 | Moderate | Undervaluation Signal |
| 34 | SKT | Sky Network Television Limited | Communication Services | 49 | Moderate | Insider Activity |
| 35 | TEM | Templeton Emerging Markets Investment Trust PLC | Financials | 49 | Moderate | Insider Activity |
| 36 | CMO | The Colonial Motor Company Limited | Consumer Discretionary | 48 | Moderate | Insider Activity |
| 37 | CRP | Chatham Rock Phosphate Limited | Industrials | 48 | Moderate | Undervaluation Signal |
| 38 | DGL | Delegat Group Limited | Consumer Staples | 48 | Moderate | Undervaluation Signal |
| 39 | DOW | Downer EDI Limited | Industrials | 48 | Moderate | Insider Activity |
| 40 | EBO | EBOS Group Limited | Healthcare | 48 | Moderate | Undervaluation Signal |
| 41 | FWL | Foley Wines Limited | Consumer Staples | 48 | Moderate | Insider Activity |
| 42 | GNE | Genesis Energy Limited | Utilities | 48 | Moderate | Undervaluation Signal |
| 43 | GTK | Gentrack Group Limited | Information Technology | 48 | Moderate | Undervaluation Signal |
| 44 | KPG | Kiwi Property | Real Estate | 48 | Moderate | Insider Activity |
| 45 | MCY | Mercury NZ Limited | Utilities | 48 | Moderate | Insider Activity |
| 46 | NTL | New Talisman Gold Mines Ltd | Industrials | 48 | Moderate | Undervaluation Signal |
| 47 | PCT | Precinct Properties New Zealand Limited | Real Estate | 48 | Moderate | Insider Activity |
| 48 | POT | Port of Tauranga Limited | Industrials | 48 | Moderate | Insider Activity |
| 49 | RAK | Rakon Limited | Information Technology | 48 | Moderate | Undervaluation Signal |
| 50 | SKO | Serko Limited | Industrials | 48 | Moderate | Undervaluation Signal |
| 51 | WCO | WasteCo Group Limited | Industrials | 48 | Moderate | Undervaluation Signal |
| 52 | ARG | Argosy Property Limited | Real Estate | 47 | Moderate | Insider Activity |
| 53 | ATM | The a2 Milk Company Limited | Consumer Staples | 47 | Moderate | Undervaluation Signal |
| 54 | BRW | Bremworth Limited | Consumer Discretionary | 47 | Moderate | Undervaluation Signal |
| 55 | CEN | Contact Energy Limited | Utilities | 47 | Moderate | Undervaluation Signal |
| 56 | IKE | ikeGPS Group Limited | Materials | 47 | Moderate | Undervaluation Signal |
| 57 | PGW | PGG Wrightson Limited | Industrials | 47 | Moderate | Undervaluation Signal |
| 58 | SPG | Stride Property Limited | Real Estate | 47 | Moderate | Undervaluation Signal |
| 59 | SUM | Summerset Group Holdings Limited | Healthcare | 47 | Moderate | Undervaluation Signal |
| 60 | TCM | Taiko Critical Minerals Limited | Materials | 47 | Moderate | Undervaluation Signal |
| 61 | THL | Tourism Holdings Limited | Consumer Discretionary | 47 | Moderate | Undervaluation Signal |
| 62 | TRA | Turners Automotive Group | Consumer Discretionary | 47 | Moderate | Undervaluation Signal |
| 63 | TWR | Tower Limited | Financials | 47 | Moderate | Undervaluation Signal |
| 64 | ANZ | ANZ Group Holdings Limited | Financials | 46 | Moderate | Undervaluation Signal |
| 65 | AOF | AoFrio Limited | Financials | 46 | Moderate | Undervaluation Signal |
| 66 | BPG | Black Pearl Group Limited | Real Estate | 46 | Moderate | Undervaluation Signal |
| 67 | BRM | Barramundi Limited | Financials | 46 | Moderate | Undervaluation Signal |
| 68 | CCC | Cooks Coffee Company Limited | Consumer Staples | 46 | Moderate | Undervaluation Signal |
| 69 | GMT | Goodman Property Trust | Real Estate | 46 | Moderate | Undervaluation Signal |
| 70 | HFL | Henderson Far East Income Limited | Financials | 46 | Moderate | Undervaluation Signal |
| 71 | HGH | Heartland Group Holdings Limited | Financials | 46 | Moderate | Undervaluation Signal |
| 72 | HLG | Hallenstein Glasson Holdings Limited | Consumer Discretionary | 46 | Moderate | Undervaluation Signal |
| 73 | MEL | Meridian Energy Limited | Utilities | 46 | Moderate | Undervaluation Signal |
| 74 | MFB | My Food Bag Group Limited | Financials | 46 | Moderate | Undervaluation Signal |
| 75 | MKR | Manuka Resources Limited | Materials | 46 | Moderate | Undervaluation Signal |
| 76 | MPG | Metro Performance Glass | Real Estate | 46 | Moderate | Undervaluation Signal |
| 77 | NPH | Napier Port Holdings Limited | Industrials | 46 | Moderate | Undervaluation Signal |
| 78 | NZK | New Zealand King Salmon Investments Limited | Consumer Staples | 46 | Moderate | Undervaluation Signal |
| 79 | NZL | New Zealand Rural Land Company Limited | Real Estate | 46 | Moderate | Undervaluation Signal |
| 80 | PFI | Property for Industry Limited | Real Estate | 46 | Moderate | Insider Activity |
| 81 | PYS | PaySauce Limited | Information Technology | 46 | Moderate | Undervaluation Signal |
| 82 | SEK | Seeka Limited | Consumer Staples | 46 | Moderate | Undervaluation Signal |
| 83 | TGG | T&G Global Limited | Consumer Staples | 46 | Moderate | Insider Activity |
| 84 | VSL | Vulcan Steel Limited | Materials | 46 | Moderate | Undervaluation Signal |
| 85 | WBC | Westpac Banking Corporation | Financials | 46 | Moderate | Undervaluation Signal |
| 86 | AIR | Air New Zealand | Industrials | 45 | Moderate | Undervaluation Signal |
| 87 | FPH | Fisher & Paykel Healthcare Corporation Limited | Healthcare | 45 | Moderate | Undervaluation Signal |
| 88 | FRW | Freightways Group Limited | Industrials | 45 | Moderate | Undervaluation Signal |
| 89 | KFL | Kingfish Limited | Financials | 45 | Moderate | Undervaluation Signal |
| 90 | MFT | Mainfreight Limited | Industrials | 45 | Moderate | Insider Activity |
| 91 | MLN | Marlin Global Limited | Financials | 45 | Moderate | Undervaluation Signal |
| 92 | PEB | Pacific Edge Limited | Healthcare | 45 | Moderate | Undervaluation Signal |
| 93 | RAD | Radius Residential Care Limited | Healthcare | 45 | Moderate | Undervaluation Signal |
| 94 | SCT | Scott Technology Limited | Industrials | 45 | Moderate | Undervaluation Signal |
| 95 | SMI | Santana Minerals Ltd | Materials | 45 | Moderate | Undervaluation Signal |
| 96 | SML | Synlait Milk Limited | Consumer Staples | 45 | Moderate | Undervaluation Signal |
| 97 | STU | Steel & Tube Holdings Limited | Materials | 45 | Moderate | Undervaluation Signal |
| 98 | UVA | Uvre Limited | Materials | 45 | Moderate | Undervaluation Signal |
| 99 | WIN | Winton Land Limited | Real Estate | 45 | Moderate | Undervaluation Signal |
| 100 | AFT | AFT Pharmaceuticals Limited | Healthcare | 44 | Moderate | Insider Activity |
| 101 | ALF | Allied Farmers Limited | Financials | 44 | Moderate | Undervaluation Signal |
| 102 | BGP | Briscoe Group Limited | Consumer Discretionary | 44 | Moderate | Undervaluation Signal |
| 103 | MEE | Me Today Limited | Consumer Staples | 44 | Moderate | Undervaluation Signal |
| 104 | SPN | South Port New Zealand Limited | Industrials | 44 | Moderate | Undervaluation Signal |
| 105 | WHS | The Warehouse Group Limited | Consumer Discretionary | 44 | Moderate | Undervaluation Signal |
| 106 | 2CC | 2 Cheap Cars Group Limited | Financials | 43 | Moderate | Undervaluation Signal |
| 107 | APL | Asset Plus | Real Estate | 43 | Moderate | Undervaluation Signal |
| 108 | CNU | Chorus Limited | Communication Services | 43 | Moderate | Undervaluation Signal |
| 109 | MOV | MOVE Logistics Group Limited | Industrials | 43 | Moderate | Undervaluation Signal |
| 110 | RBD | Restaurant Brands New Zealand Limited | Consumer Discretionary | 43 | Moderate | Undervaluation Signal |
| 111 | VNT | Ventia Services Group Limited | Industrials | 43 | Moderate | Undervaluation Signal |
| 112 | AGL | Accordant Group Limited | Utilities | 42 | Moderate | Undervaluation Signal |
| 113 | BIT | The Bankers Investment Trust PLC | Financials | 42 | Moderate | Undervaluation Signal |
| 114 | BLT | BLIS Technologies Limited | Consumer Staples | 42 | Moderate | Undervaluation Signal |
| 115 | MEX | Minerals Exploration Limited | Materials | 42 | Moderate | Undervaluation Signal |
| 116 | SCL | Scales Corporation Limited | Industrials | 42 | Moderate | Undervaluation Signal |
| 117 | SKL | Skellerup Holdings Limited | Industrials | 42 | Moderate | Undervaluation Signal |
| 118 | SVR | Savor Limited | Consumer Staples | 42 | Moderate | Undervaluation Signal |
| 119 | IPR | Iperion Limited | Real Estate | 41 | Moderate | Undervaluation Signal |
| 120 | NZX | NZX Limited | Financials | 41 | Moderate | Undervaluation Signal |
| 121 | PHL | Promisia Healthcare Limited | Healthcare | 41 | Moderate | Undervaluation Signal |
| 122 | AFC | AFC Group Holdings Limited | Financials | 40 | Moderate | Undervaluation Signal |
| 123 | AIA | Auckland International Airport Limited | Industrials | 40 | Moderate | Undervaluation Signal |
| 124 | CDI | CDL Investments New Zealand Limited | Real Estate | 40 | Moderate | Undervaluation Signal |
| 125 | MCK | Millennium & Copthorne Hotels New Zealand Limited | Consumer Discretionary | 40 | Moderate | Undervaluation Signal |
| 126 | MHJ | Michael Hill International Limited | Consumer Discretionary | 40 | Moderate | Undervaluation Signal |
| 127 | OCA | Oceania Healthcare Limited | Healthcare | 40 | Moderate | Undervaluation Signal |
| 128 | RTO | RTO Limited | Information Technology | 40 | Moderate | Undervaluation Signal |
| 129 | BFG | Burger Fuel Group Limited | Consumer Discretionary | 39 | Moderate | Undervaluation Signal |
| 130 | VCT | Vector Limited | Utilities | 39 | Moderate | Undervaluation Signal |
| 131 | SAN | Sanford Limited | Consumer Staples | 38 | Moderate | Undervaluation Signal |
The Takeover Probability Agent uses a 6-factor weighted model to estimate the relative likelihood that a company may become an acquisition target. This is a statistical signal based on publicly available data, not a prediction of any specific deal.
Rating scale: High (75-100) — multiple strong acquisition signals. Elevated (50-74) — notable characteristics that may attract acquirers. Moderate (25-49) — some factors present but no strong pattern. Low (0-24) — few acquisition-relevant signals detected.
See also: M&A Intelligence — deal analysis, adviser involvement, premium trends. · Deal Prediction — complementary deal signals. · Deal Insider Signals — insider trading around M&A events.
Unified analyst consensus — target prices, guidance accuracy, earnings expectations across the NZX.
9-factor beat/miss probability model — guidance, tone, historical patterns, analyst consensus.
Predicted HY/FY reporting dates for all NZX companies based on historical patterns.
Data sourced from NZX company announcements, financial data, governance scores, and insider trading records. Our datasets may not be complete. Automated analysis can produce errors. If you believe any data on this page is incorrect, please contact us at hello@nzxplorer.co.nz.
For informational purposes only. Not investment advice.
