Tuesday, January 19, 2010

Rejection of offer from YTL CEMENT

YTL offer to purchase Jurong Cement was rejected by the current majority shareholder. Logically, the prices should fall back to the 2.1 cash offer price. However, this probably means that Holcoim, the current major shareholder, believe it can unlock more value from the company than the offer price by YTL. It can also be for competitive reasons, since Holcoim deals with cement too, but I have no idea about the industry.
References
SGX - REJECTION OF OFFER TO PURCHASE CERTAIN ASSETS BY YTL CEMENT SINGAPORE PTE LTD

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