Corporate digest
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
Memstar Technology
MEMSTAR Technology on Thursday converted its trading halt - which was implemented on Monday - to an immediate voluntary suspension pending the outcome of negotiation on revising key terms of a proposed reverse takeover deal with Longmen Group.
In a statement to the Singapore Exchange, Memstar said discussions were preliminary at this stage and advised shareholders that there was no certainty that the parties would be able to reach an agreement. The membrane manufacturer had proposed to acquire all of Longmen Group, a natural gas developer, for US$420 million in an all-share deal last December. It has since signed three supplemental agreements between February and July this year on the proposed deal.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Eurokars Group introduces rental car franchises Enterprise Rent-A-Car, National Car Rental, and Alamo to Singapore
20 photos that show how dramatically Singapore has changed in two decades
Singapore’s key exports up 15.3% in March from electronics surge, exceeding forecasts
