Interesting twist in The Store

Buyout target: The total net book value of The Store’s properties is RM423.8mil, according to its 2015 annual report.

PETALING JAYA: The Tang family which is seeking to buy out The Store Corp Bhd has secured acceptances giving them a total of 59% of the company’s equity, making their offer unconditional despite the share price closing higher than the price on the table.

This came after the company revised its buyout offer to RM3.70 a piece last Friday, from the original offer price of RM3.52 when it triggered the mandatory general offer on Nov 28.