Platinum Equity Advisors makes S$1.33 per share cash offer for PCI

Singapore

AMERICAN private equity firm Platinum Equity Advisors has offered to acquire all the shares of mainboard-listed PCI by way of a scheme of arrangement, and is offering S$1.33 in cash for each share.

The price represents a premium of 60.1 per cent over the volume-weighted average price of PCI shares for the 12-month period up to and including Sept 17, 2018, that being the last full trading day preceding the date the company gave notice of a possible transaction.