You are here

Hong Kong's PAG sweetens takeover bid for Spring REIT

[HONG KONG]  Hong Kong-based private equity group PAG has sweetened its offer to buy Spring Real Estate Investment Trust (REIT), a unit of PAG said on Monday.

PAG Real Estate made a new offer of HK$5.30(S$0.94) for each unit of Spring REIT, up from an earlier HK$4.85.

The offer was final and would not be increased, PAG Real Estate said. All other terms of the offer were unchanged from the original, it added.

The offer represents a premium of 76.7 per cent to Spring REIT's Sept 24 closing price, PAG said.

PAG launched a HK$5.24 billion  unsolicited takeover bid for Spring REIT on Sept 26.

REUTERS

sentifi.com

Market voices on: