bullish
GA Pack (468 HK): Stalemate Broken as Management Considers a Possible Counteroffer
504 Views07 Aug 2024 02:12
The stalemate is broken as management has signalled a desire to take on Shandong Xinjufeng with a counteroffer. The wording suggests a counteroffer would be at least 10%+ higher (around HK$3.00).
What is covered in the Full Insight:
- Introduction
- Management's Reaction to the Offer
- Important Events Recap
- Details of Potential Management Counteroffer
- Shandong Xinjufeng's Strategic Response
Boomeranged on Thu, 22 Aug 2024 14:37
As expected, Shandong Xinjufeng has resubmitted an EGM requisition for appointing two director nominees, this time with the correct entity. The Board is required to hold the EGM within two months, which sets the timeline for management to table a binding counteroffer. The gross spread to the Shandong Xinjufeng offer at the current price was 6.9%.
SUMMARY
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Full Insight
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