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.