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HNA offer for CWT 'fair and reasonable'

Independent financial adviser Ernst & Young also considered how the offer was declared unconditional in all respects, and there were no alternative offers from third parties

Tue, Oct 03, 2017 - 5:50 AM

Cai Haoxianghaoxiang@sph.com.sg@HaoxiangCaiBT

Singapore

CHINESE conglomerate HNA Holding Group's S$2.33 a share, S$1.4 billion offer for logistics firm CWT Limited is fair and reasonable from a financial point of view, said Ernst & Young Corporate Finance Pte Ltd, the independent financial adviser (IFA) to the deal.

The...

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