AEM's bid for CEI cements its M&A strategy to extend industry leadership
IN WHAT could end up being its largest acquisition to date, AEM Holdings' S$99.7 million buy-out bid for contract manufacturer CEI comes at an opportune time for the fast-growing company to extend its leadership in the industry.
Under the deal, AEM is offering S$1.15 for each share in CEI. While there is an option for an all-cash buyout, CEI shareholders can also choose a mix of 85 per cent cash and 15 per cent new AEM shares, or 70 per cent cash and 30 per cent new AEM shares, at an issue price of S$3.55 for each new share in AEM.
This would come up to either S$0.9775 in cash and 0.0486 of a new AEM share, or S$0.8050 in cash and 0.0972 of a new AEM share.
CEI investors will hold a maximum of 2.49 per cent of the enlarged total number of issued shares in the capital of the comp…
GET BT IN YOUR INBOX DAILY
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Digital Core Reit Q1 distributable income slips 2.4% to US$10.6 million
Hilton lifts 2024 profit forecast on international travel demand
Asia stocks rise on Wednesday amid Wall Street rally; STI up 0.6%
Orsted says Taiwan wind project to power TSMC on track for 2025 finish
China knockoff raid jolts a global throng of fake-fashion influencers
Tesla profits tumble but shares rise on new vehicle plan