Singapore

JARDINE Matheson Holdings does not intend to raise its offer price of US$33 per share for the approximately 15 per cent of Jardine Strategic Holdings (JSH) that it does not already own, the conglomerate told The Business Times.

Despite its offer price being criticised for being too low, and some shareholders considering legal action in Bermuda to have the stock appraised, Jardine Matheson Holdings (JMH) insists that US$33 is "fair value" as both the Jardine Strategic Transaction Committee and Jardine Matheson have been "rigorous" in their assessments.