Cheng family's LTC buyout bid declared unconditional

Singapore

THE controlling Cheng family's buyout offer for mainboard-listed LTC Corporation has been declared unconditional, after the acceptance thres-hold for the offer was lowered.

Bid vehicle Mountbatten Enterprises got the go-ahead from the Securities Industry Council to reduce the acceptance condition for the voluntary cash offer from the 90 per cent mark to 50 per cent, financial adviser OCBC Bank said on Monday.