SIAS reiterates call for higher GMG offer

Singapore

THE Securities Investors Association of Singapore (SIAS) has reiterated its call for Halcyon Agri Corp to raise its offer for GMG Global, citing an independent financial adviser's (IFA) finding that Halcyon's offer is unfair and raising questions about valuations used.

Halcyon should "reconsider their offer in the interest of all shareholders of GMG Global," SIAS, an advocacy group for minority shareholders, said in a statement on Tuesday, a day before Halcyon was scheduled to meet GMG shareholders to make a case for the merger and to address shareholders' concerns.