BRC Asia offers 42 cents apiece for Lee Metal Group
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Singapore
STEEL prefabrication firm BRC Asia is offering to buy fellow steel player Lee Metal Group at an offer price of 42 Singapore cents for each share, or S$199.3 million in total, with the aim of delisting the company.
The offer price represents a premium of 9.1 per cent to Lee Metal's last traded price of 38.5 Singapore cents on Nov 10, 2017 - being the last full trading day prior to the announcement by the company on notification by certain shareholders of an unsolicited approach to acquire their shares.
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