(22-07-2013, 08:10 PM)freedom Wrote: [ -> ]would that imply that Lam Soon is trading with inside information if eventually Lam Soon makes an offer?
Haven't you noticed that all of Lam Soon's letters of Disclosure of Dealings have been addressed to SIC (Securities Industry Council; itself supported by a Secretariat staffed by MAS officers) as well? The authorities have been informed on a timely manner, and ought to be aware that potentially there could be more than 1 suitors for Viz Branz.
More info on SIC.....
http://www.mas.gov.sg/sic
i am betting that CBB will let the offer lapse, since LS will definately not be HAPPY with the offer price of 78cts and they have shown that 79.5cts is how much they are willing to pay up to a certain point.
Will LS offer a take over on it's own? depends how much $ LS can come up with! :O
Trading halt, pending announcement. Let's wait for events to unfold.
offer was upped to 0.815, but still no mention of commitment from Lam Soon.
Will Lam Soon yield?
If Lam Soon/Whang Family accept Ben Chng's revised GO price at $0.815/share for their now 20.776% stake, they will stand to reap an approx. $5.0m gain. Good enough for their bet?
Ben Chng will stand to raise his stake to a super-majority of approx. 84.4% if Lam Soon accepts his revised offer, and I suppose there would be enough other minority shareholders who may choose to follow suit and bring the total acceptance above the critical 90% mark. So quite clearly, Lam Soon is holding the trump card?
Let's see if LS continues to mop up VBZ shares at a higher price?
I'm betting LS wants more...
I think LS will sell at a price they think good. Is 81.5 cents good for it?
REVISION OF OFFER PRICE AND FINAL OFFER PRICE
Pursuant to Rule 20.1 of the Code, Credit Suisse wishes to announce, for and on behalf of the
Offeror, that the Offeror has increased its Offer Price from S$0.78 per Offer Share to:
For each Offer Share: S$0.815, payable in cash (“Final Offer Price”)
The Offeror does not intend to further revise the Final Offer Price.
not vested
i find the entire GO bizarre.
If you are Ben Chng, knowing that one other party holds 20%, wouldn't you try to negotiate something with them first before launching a GO bid? It's not as if he is just trying to gain a majority stake; ultimately whether he manages to delist the firm depends on Lam Soon - so it's really strange to me why he did not ensure their sale before launching the public bid.