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HNA close to making S$2.30 a share offer for CWT: report

Potential offer represents about 11% premium over CWT's last traded price of S$2.07 on Thursday

Published Thu, Apr 6, 2017 · 09:50 PM

Singapore

CHINESE conglomerate HNA Group is close to making a formal takeover offer for logistics provider CWT Limited in a potential S$2.30 per share deal that could value CWT at about S$1.38 billion, Bloomberg reported on Thursday citing sources.

The news comes nearly a year after CWT's controlling shareholders agreed to exclusive talks with HNA in May 2016, and analysts said the potential premium over the stock's current price would likely be attractive.

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