Li Ka-shing's Power Assets buyout offer rejected
Beijing
POWER Assets Holdings Ltd shareholders rejected a US$12.4 billion buyout offer from billionaire Li Ka-shing, dealing a rare setback for Hong Kong's richest man as he seeks to consolidate his utilities and infrastructure businesses before handing over control of his empire to his elder son Victor.
Mr Li, making his offer through Cheung Kong Infrastructure Holdings Ltd, failed to get enough Power Assets minority shareholders voting at a meeting on Tuesday to approve the deal, according t…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Copenhagen mayor to take lessons from Notre-Dame after Old Stock Exchange blaze
Reuters’ Mohammed Salem wins 2024 World Press Photo of the Year award
Europe’s Red Letta day to consider major reforms
Norway's wealth fund posts US$109 billion Q1 profit as tech stocks soar
Norway wealth fund backs NatWest plan to buy more state-owned stock
Japanese firms agree on 5.2% pay raise, biggest union group Rengo says