In today’s briefing:
- Oishi Group (OISHI TB): ThaiBev’s Delisting Tender Offer at THB59.00
Oishi Group (OISHI TB): ThaiBev’s Delisting Tender Offer at THB59.00
- Oishi Group PCL (OISHI TB) has disclosed a delisting tender offer from Thai Beverage (THBEV SP) at THB59.00 per share, a 26.9% premium to the undisturbed price (10 March).
- The offer is conditional on Oishi shareholder approval which requires 75% approval by total outstanding shares and <10% rejection by total outstanding shares. ThaiBev can vote at the EGM.
- The offer price is reasonable and timing is the key risk. The delisting EGM will be held on 3 May. The offer must be open for 45 business days.
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