![]() “The stock never traded higher than P16.70 so a mandatory tender offer means everyone currently holding EAGLE stand to make money,” it noted. SMC said intends to file a request for exemptive relief with the Securities and Exchange Commission to allow the tender offer to start after the approval by the PCC.Ībacus Securities Corporation said the deal values Eagle Cement at 50 percent higher than the consensus target price on Bloomberg and well above the initial public offering price of P15.00. As a result of the acquisition, SMC is required to conduct a mandatory tender offer of the shares of Eagle Cement held by its minority shareholders who hold 11.50 percent of the total issued and outstanding capital stock. The closing of the transaction is subject to the approval by the PCC. Payment shall be paid in tranches and in cash,” SMC said. “The consideration was the result of negotiations between the Purchaser and the Sellers, and the basis for the negotiation and determination of the sale price was the valuation undertaken by an independent firm using global valuation standards. Ang for P97.5 billion or P22.02 per share. Ang, and daughter and SMC authorized signatory Monica L. as well share held personally by Ang, his son and SMC Director John Paul L. SMC is buying a total of 88.5 percent of Eagle Cement (4.43 billion shares) from Ang’s Far East Holdings Inc. ![]() and Eagle Cement’s majority shareholders led by SMC President Ramon S. In a disclosure to the Philippine Stock Exchange, Eagle Cement said a share purchase agreement has already been signed between San Miguel Equity Investments Inc. Diversified conglomerate San Miguel Corporation is planning to undertake a P12.66 billion tender offer for minority shares of Eagle Cement Corporation once the Philippine Competition Commission approves the P97.5 billion acquisition of the cement firm. ![]()
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