THE lowball voluntary unconditional cash offer for Amara Holdings closed last week with the offeror – a special purpose vehicle owned by the controlling Teo family and private-equity firm Dymon Asia – securing nearly 88.4 per cent of its shares.

This is short of the 90 per cent shareholding threshold that would have resulted in trading being suspended, and the offeror being able to compulsorily acquire the remaining shares.

It may be a matter of time before Amara is delisted, though.