Speculation about a possible second party interested in Hanover Finance is pointing at Sir Ron Brierley's Guinness Peat Group (GPG).
The Dominion Post on Thursday reported it understood GPG was working on a potential bid for Hanover, although GPG's New Zealand director Tony Gibbs had declined to comment.
A week ago listed rural services and finance company Allied Farmers proposed to buy the finance assets of Hanover and subsidiary United Finance in a deal worth about $NZ400 million ($A315.52 million).
On Wednesday, The New Zealand Herald reported that a well known and "trusted" company was likely to offer Hanover and United investors a competitive alternative to Allied Farmers' debt-for-equity proposal within a few days.
That was followed by a statement from Hanover Finance chairman David Henry, saying Hanover had no knowledge of any other interested party "and we will not speculate on media commentary".
Allied Farmers shareholders are due to vote on the proposed bid by their company at a special meeting in Hawera on December 8.
In information about the meeting Allied said an independent report from Grant Samuel had found the proposal was fair to Hanover and United investors and was superior to the status quo and receivership and that an alternative superior offer was unlikely.
The consideration being offered by Allied was considered fair, the Grant Samuel report had found.
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