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Offer for Super Group 'fair and reasonable': IFA
THE financial terms of the offer for Super Group are fair and reasonable, according to independent financial adviser (IFA) SAC Capital.
They are advising Super's independent directors to recommend shareholders to accept the offer, unless shareholders can obtain a price higher in the open market, taking into account related expenses such as brokerage and trading costs.
Dutch tea and coffee group JDE has launched a S$1.45 billion privatisation offer for Super.
In their review, the IFA noted that the offer price of S$1.30 comes at a premium.
It is a 34 per cent premium to the stock's 97 Singapore cents close before the announcement was made.
The offer closes at 5.30pm on April 11.