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Buyout offer fair and reasonable: IFA tell PTC Logistics shareholders

INDEPENDENT financial advisors (IFA) have urged shareholders of Poh Tiong Choon Logistics (PTC Logistics) to accept the buyout offer for the company at S$1.30 per share.

In a statement released on Friday, PTC Logistics said that the IFA have found the offer to be "fair and reasonable from a financial point of view".

PTC Logistics had in September received a buyout offer pegged at S$1.30 per share from Respond Logistics, a vehicle backed by the firm's chairman, Poh Choon Ann, and Tower Capital logistics, an affiliate of Tower Capital Logistics. The offer values the firm at S$275.5 million.

Among reasons cited by the IFA were the premiums implied by the offer price, liquidity of the shares and superior price performance of the shares against the Singapore equity market.

sentifi.com

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