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07-07-2014, 01:57 PM
(07-07-2014, 01:50 PM)Layman A Wrote:i think it does matter to OCBC. It is not free (in waiting) in terms of many considerations besides $. No?(07-07-2014, 09:02 AM)yawnyawn Wrote: OCBC’s bid for Wing Hang now unconditional
SINGAPORE — Oversea-Chinese Banking Corp’s (OCBC) HK$38.4 billion (S$6.17 billion) deal to take over Wing Hang Bank has turned unconditional, after its stake in the family-owned lender crossed 50 per cent.
But OCBC’s proposition to delist Wing Hang from the Hong Kong Stock Exchange could be in a pickle after hedge-fund firm Elliott Management raised its stake to nearly 8 per cent, the Wall Street Journal reported.
What is uncertain is whether OCBC will gain the roughly 90 per cent of shares needed under Hong Kong rules to squeeze out the remaining 10 per cent and delist Wing Hang.
In a filing with the Hong Kong Securities and Futures Commission, Elliott said it had bought an additional 8.7 million Wing Hang shares this week for HK$125 each, bringing its stake in the company to 7.8 per cent.
Elliott, run by billionaire Paul Singer, is known for an activist bent and agitating for a sale or board shake-up in companies in which it invests, pushing stock prices higher.
http://www.todayonline.com/business/ocbc...onditional
Since OCBC has already seize the control of Wing Hang,
it doesn't matter end of the day they own 60% or 88% after the takeover exercise.
Elliott Management trying to play hard to catch now, but I
don't think OCBC management is stupid enough to submit to them.
They can always wait, wait, wait, wait , and wait till the Hong Kong stock market crash !
Given the track record of OCBC in Great Eastern Life, I think Elliott Management can suck thumb and wait till their neck look like a Giraffe.
WB:-
1) Rule # 1, do not lose money.
2) Rule # 2, refer to # 1.
3) Not until you can manage your emotions, you can manage your money.
Truism of Investments.
A) Buying a security is buying RISK not Return
B) You can control RISK (to a certain level, hopefully only.) But definitely not the outcome of the Return.
NB:-
My signature is meant for psychoing myself. No offence to anyone. i am trying not to lose money unnecessary anymore.
1) Rule # 1, do not lose money.
2) Rule # 2, refer to # 1.
3) Not until you can manage your emotions, you can manage your money.
Truism of Investments.
A) Buying a security is buying RISK not Return
B) You can control RISK (to a certain level, hopefully only.) But definitely not the outcome of the Return.
NB:-
My signature is meant for psychoing myself. No offence to anyone. i am trying not to lose money unnecessary anymore.