(17-07-2013, 11:02 AM)freedom Wrote: [ -> ]some fireworks?
0.79 now, above the offer price.
wow. new high at 80 cents
Lam Soon bought 500,000+ share above the offer price, the show started?
(18-07-2013, 05:44 PM)freedom Wrote: [ -> ]Lam Soon bought 500,000+ share above the offer price, the show started?
So Lam Soon has now shown its hands. Seems like we have a fight coming.
(05-07-2013, 10:52 PM)Trader88 Wrote: [ -> ]CBB has no intention to takeover the company.
Two possible outcomes:
1. LS rejects offer. Life goes on;
2. LS counter offers as what CBB hopes to achieve, then CBB sells all shares to LS.
Looks like it is possibility No.2
the action of open market purchase indicates that Lam Soon will not make a counter offer. I don't believe it is legal to buy from open market just before making a formal counter offer.
(19-07-2013, 03:14 PM)freedom Wrote: [ -> ]the action of open market purchase indicates that Lam Soon will not make a counter offer. I don't believe it is legal to buy from open market just before making a formal counter offer.
Er... IIRC, it is legal to acquire from open market before GO, and the restrictions are the offer price must be higher than or equal to the acquired price, and must declare the holding in the GO.
ST: Lam Soon buys more Viz Branz shares at 79 cents apiece to raise its stake to 20.3%
Published on Jul 19, 2013
6:08 PM
By Dennis Chan
MALAYSIAN-BASED Lam Soon Cannery has continued to raise its stake in Viz Branz despite an iron-clad takeover bid by Viz Branz managing director Ben Chng Beng Beng.
Mr Chng is making an unconditional general offer for all the remaining shares of Viz Branz at 78 cents apiece after acquiring his father Chng Khoon Peng's 38.3 per cent stake to take his holding in the company to 58.1 per cent.
In a disclosure dated July 19, Lam Soon Cannery said it bought 260,000 Viz Branz shares at 79 cents each, to raise its stake to 20.3 per cent.
Market watchers say it makes no sense for Lam Soon to raise its stake for a significant minority stake in a company that could soon be taken private, unless there is some form of cooperation between Lam Soon and Viz Branz.
This is unlikely, however, because any cooperation would imply the parties are working in concert. Under the takeover code, parties acting in concert are barred from acquiring shares at different prices during the general offer period.
(18-07-2013, 05:44 PM)freedom Wrote: [ -> ]Lam Soon bought 500,000+ share above the offer price, the show started?
LS brought in another 181 lots at 79.5cts!
show of strength to CBB, offer MORE!
Up up away CBB!
It is very encouraging that Lam Soon is adding more Viz Branz shares by buying from the open-market and is willing to pay more than Ben Chng's GO at $0.78/share. Their purchases in the last few market-days have raised Lam Soon's stake to 20.336% as of today (22Jul13)....
http://infopub.sgx.com/FileOpen/LSC_VizB...eID=248621
What are the chances that Lam Soon could be talking to Ben Chng to buy his majority-control 58.1% block? If the two can strike a deal - likely at a higher price than $0.78/share - Ben Chng's GO will be off and a new GO from Lam Soon will emerge.
(22-07-2013, 07:29 PM)dydx Wrote: [ -> ]It is very encouraging that Lam Soon is adding more Viz Branz shares by buying from the open-market and is willing to pay more than Ben Chng's GO at $0.78/share. Their purchases in the last few market-days have raised Lam Soon's stake to 20.336% as of today (22Jul13)....
http://infopub.sgx.com/FileOpen/LSC_VizB...eID=248621
What are the chances that Lam Soon could be talking to Ben Chng to buy his majority-control 58.1% block? If the two can strike a deal - likely at a higher price than $0.78/share - Ben Chng's GO will be off and a new GO from Lam Soon will emerge.
would that imply that Lam Soon is trading with inside information if eventually Lam Soon makes an offer?