Portek International

[yeokiwi]

Mitsui & Co has secured 51.29% shareholding with irrevocable undertaking from management and unless ICTSI wants to become a minority shareholder, I doubt it will counter offer.
So, yes. This will be the last bid.
It is certainly a pity to see a good Singapore company going to a foreign company.
Anyway, ICTSI also earn some kopi money during this period.

The most surprising part of the offer document is
"As at the date of this announcement (“Offer Announcement Date”), and to the best of the
knowledge and belief of the Offeror, the Offeror and the Relevant Persons (as defined in
paragraph 12.1 below) do not own or control any Shares."

During this period, the mitsui has not even bought a single share from the market. Those shrewd investors that bought the shares from open market after the third part interest was revealed are also popping champagne too.