Posts: 2,966
Threads: 71
Joined: Sep 2010
Reputation:
52
Finally, the U.S. based controlling shareholder (with a 33.9% interest) Avnet, Inc., through PricewaterhouseCoopers Corporate Finance, has just announced a privatization GO for Unidux Electronics at $0.143/share in cash.....
http://info.sgx.com/webcoranncatth.nsf/V...70035664A/$file/UEL_Offer_Announcement_20111028.pdf?openelement [GO announcement]
http://info.sgx.com/webcoranncatth.nsf/V...70035664A/$file/UEL_Press_Release_20111028.PDF?openelement [Press release]
As Avnet has already secured another 35.24% from the 2 key minority shareholders and managers - Mr Tan Yew Teong and Ms Chan Siu Ngan - it appears that the privatization GO will likely be a straight-forward exercise.
Time for shareholders of Unidux Electronics to pop a bottle of champagne!
More info on Avnet, Inc....
http://www.avnet.com/
Posts: 657
Threads: 29
Joined: Sep 2010
Reputation:
11
Dydx,
you never fail to surprise me with stocks like these.
Posts: 564
Threads: 2
Joined: Sep 2010
Reputation:
17
(28-10-2011, 06:15 PM)dydx Wrote: Time for shareholders of Unidux Electronics to pop a bottle of champagne!
Why do you think they want to set the Offer Threshold at 93.4%? If they can hit 90%, it's done deal for Avnet since they can do compulsory acquisition, no?
Anyway, credit must go to the CEO for negotiating an offer price so close to the NTA. Being able to speak jap probably helps a lot. Avnet's offer on Unidux Japan was about PB 0.8. So the offer is more favorable for shareholders of this tiny little associate. How much more can you ask for?
Posts: 2,966
Threads: 71
Joined: Sep 2010
Reputation:
52
(29-10-2011, 01:08 AM)cif5000 Wrote: Why do you think they want to set the Offer Threshold at 93.4%? If they can hit 90%, it's done deal for Avnet since they can do compulsory acquisition, no?
I am puzzled by this as well. I guess a call to PricewaterhouseCoopers Corporate Finance, Vishal V Thapliyal
Executive Director (Tel: +65 6236 3978), should bring an answer!
Posts: 2,966
Threads: 71
Joined: Sep 2010
Reputation:
52
Avnet, Inc.'s $0.143/share cash privatization offer made through PricewaterhouseCoopers Corporate Finance to all minority shareholders of Unidux Electronics is now open for acceptance, and the level of acceptances at the close of the first day (22Nov11) has hit 70.05%.....
http://info.sgx.com/webcoranncatth.nsf/V...10001E920/$file/Unidux-Level_of_Acceptances-20111123.PDF?openelement
Posts: 2,966
Threads: 71
Joined: Sep 2010
Reputation:
52
The level of acceptances of the Offer as at 5p.m. on 6Dec11 (yesterday) has reached 82.33%.....
http://info.sgx.com/webcoranncatth.nsf/V...E0049ECF4/$file/Unidux-Level_of_Acceptances-20111206.PDF?openelement
Posts: 2,966
Threads: 71
Joined: Sep 2010
Reputation:
52
The level of acceptance of the Offer as at 5p.m. today (13Dec11, Tuesday) has reached 87.02%, up from 82.33% exactly a week ago (as at 5p.m. on 6Dec11).....
http://info.sgx.com/webcoranncatth.nsf/V...50048A9D0/$file/Unidux-Level_of_Acceptances-20111213.PDF?openelement
Posts: 2,966
Threads: 71
Joined: Sep 2010
Reputation:
52
For and on behalf of the Offeror, PricewaterhouseCoopers Corporate Finance has today (14Dec11) extended the Closing Date of
the Offer by 9 days, to 5.30 p.m. (Singapore time) on Wednesday, 28 December 2011.....
http://info.sgx.com/webcoranncatth.nsf/V...60002ED6A/$file/Unidux-Extension-of-closing-date-20111214.PDF?openelement
I guess they will need more time to complete the privatization exercise, bearing in mind some of the minority shareholders could be away on holidays during Dec.
Posts: 2,966
Threads: 71
Joined: Sep 2010
Reputation:
52
The level of acceptances of the Offer as at 5 p.m. today (21Dec11, Wednesday) has reached 95.32% and, accordingly, PwCCF, for and on behalf of the Offeror, has announced that the Minimum Acceptance Condition of 93.4% has been fulfilled, and the Offer has therefore become and is hereby declared to be unconditional in all respects.....
http://info.sgx.com/webcoranncatth.nsf/V...D004CB36D/$file/Unidux-Offer-declared-Unconditional-20111221.pdf?openelement
Happy to know that my bank account will soon receive the money!
Posts: 564
Threads: 2
Joined: Sep 2010
Reputation:
17
(21-12-2011, 10:30 PM)dydx Wrote: The level of acceptances of the Offer as at 5 p.m. today (21Dec11, Wednesday) has reached 95.32% and, accordingly, PwCCF, for and on behalf of the Offeror, has announced that the Minimum Acceptance Condition of 93.4% has been fulfilled, and the Offer has therefore become and is hereby declared to be unconditional in all respects.....
http://info.sgx.com/webcoranncatth.nsf/V...D004CB36D/$file/Unidux-Offer-declared-Unconditional-20111221.pdf?openelement
Happy to know that my bank account will soon receive the money!
Great! I was biting my nails for a while.
Damn, they might as well set the threshold at 99%!
|
Homepage
PR Newswire
