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New World's US$350m misstep may yet pay off
Published Wed, Jan 6, 2016 · 09:50 PM
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New York
NEW World Development now has a price tag on its biggest dealmaking misstep.
The Hong Kong conglomerate offered on Wednesday to take its Chinese unit private for US$2.7 billion, about US$350 million more than if its first attempt at the deal had been structured as a general offer, as it is now, and not a so-called scheme of arrangement.
Per share, New World is paying 15 per cent more than its March 2014 offer for the unit, New World China Land. The price is 12.6 times the Chinese subsi…
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