BreadTalk offeror meets compulsory acquisition threshold

BREADTALK Group on Thursday said that as at 5pm, its offeror had amassed acceptances representing about 97.77 per cent of the total number of shares in the food and beverage company.

The company's founder and chairman George Quek is making an offer to buy back all of the issued ordinary shares at 77 cents a piece through BTG Holding, which he owns with his wife Katherine Lee and Minor International, a hospitality and leisure company listed in Thailand.

The offeror thus intends to exercise its right to compulsorily acquire all the shares of the shareholders who have not accepted the offer under the same offer terms of S$0.77 per share.