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No change in CIMB view despite higher HPL bid

Latest offer of $4.05, up from $4, still 'fair and reasonable'; no change in recommendations either

THE second revised buyout offer for Hotel Properties Limited (HPL) is deemed to be "fair and reasonable" by the independent financial adviser to HPL. 68 Holdings, a consortium led by tycoon Ong Beng Seng and Wheelock Properties, had raised its bid a second time to $4.05 per share last month.