Bursa Alert
Global Market
NewsBerjaya unit raises offer for HR Owen
Page 1 of 1
Berjaya unit raises offer for HR Owen
by Cals Tue 17 Sep 2013, 03:10
Published: Saturday September 14, 2013 MYT 12:00:00 AM
Updated: Saturday September 14, 2013 MYT 6:51:13 AM
Berjaya unit raises offer for HR Owen
PETALING JAYA: Berjaya Philippines Inc (BPI) has raised its cash offer for upmarket British car dealer HR Owen plc to 170p (RM8.86) per share.
The increase in the offer price has led HR Owen board, which had rejected BPI’s previous offer, to make an about-turn and recommend that shareholders accept the new offer, Reuters reported.
HR Owen shareholders had until 1pm London time on Sept 27 to accept the offer,Berjaya Sports Toto Bhd (BToto) told Bursa Malaysia yesterday.
BToto also announced that BPI, its Philippines-listed subsidiary, had bought 2.35 million HR Owen shares at 170p each on Thursday.
In July, the London Stock Exchange-listed HR Owen said it was rejecting a £32.5mil (RM169.4mil) takeover bid from BPI, saying the offer of 130p per share undervalued the firm.
The preceding month, BPI had announced it had acquired a 29.81% stake in HR Owen and was making a cash offer for HR Owen shares that it had not already owned.
Founded in 1932, HR Owen has 14 sales franchises and 13 after-sales franchises forAston Martin, Bentley, Bugatti, Ferrari, Lamborghini, Maserati, Pagani, and Rolls-Royce vehicles. It also operates after-sales only franchises for Audi, BMW, Lotus and MINI.
Updated: Saturday September 14, 2013 MYT 6:51:13 AM
Berjaya unit raises offer for HR Owen
PETALING JAYA: Berjaya Philippines Inc (BPI) has raised its cash offer for upmarket British car dealer HR Owen plc to 170p (RM8.86) per share.
The increase in the offer price has led HR Owen board, which had rejected BPI’s previous offer, to make an about-turn and recommend that shareholders accept the new offer, Reuters reported.
HR Owen shareholders had until 1pm London time on Sept 27 to accept the offer,Berjaya Sports Toto Bhd (BToto) told Bursa Malaysia yesterday.
BToto also announced that BPI, its Philippines-listed subsidiary, had bought 2.35 million HR Owen shares at 170p each on Thursday.
In July, the London Stock Exchange-listed HR Owen said it was rejecting a £32.5mil (RM169.4mil) takeover bid from BPI, saying the offer of 130p per share undervalued the firm.
The preceding month, BPI had announced it had acquired a 29.81% stake in HR Owen and was making a cash offer for HR Owen shares that it had not already owned.
Founded in 1932, HR Owen has 14 sales franchises and 13 after-sales franchises forAston Martin, Bentley, Bugatti, Ferrari, Lamborghini, Maserati, Pagani, and Rolls-Royce vehicles. It also operates after-sales only franchises for Audi, BMW, Lotus and MINI.
Cals- Administrator
- Posts : 25277 Credits : 57721 Reputation : 1766
Join date : 2011-09-08
Location : global
Comments : “My plan of trading was sound enough and won oftener that it lost. If I had stuck to it Iâ€
d have been right perhaps as often as seven out of ten times.â€
Stock Exposure : Technical Analysis / Fundamental Analysis / Mental Analysis
Similar topics» Berjaya Auto’s restricted offer oversubscribed 4.19 times
» Berjaya Corp falls on rights offer proposal
» Kulim raises offer for Sindora
» AmResearch maintains Buy on Berjaya Auto, raises fair value to RM3.70
» Highlight Berjaya Corp raises its stake in REDtone to 20.05%
» Berjaya Corp falls on rights offer proposal
» Kulim raises offer for Sindora
» AmResearch maintains Buy on Berjaya Auto, raises fair value to RM3.70
» Highlight Berjaya Corp raises its stake in REDtone to 20.05%
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum