Yee Lee offer said to be fair

On Tuesday, the offerers – who collectively hold a 89.94% stake in the company – made a second attempt in less than a year to buy out the firm, which has a 29.87% stake in mineral water company Spritzer Bhd (pic) and owns the Helang (Red Eagle) brand of cooking oil.

PETALING JAYA: The offer by Yee Lee Corp Bhd’s founder and executive chairman Datuk Lim A Heng@Lim Kok Cheong and joint offerers to acquire the remaining shares in the company that they do not already own at RM2.06 per share is fair.

Public Investment Bank Research (PublicInvest) said this to clients in a report, stating that the offer was at a slight premium to its 12-month target price of RM1.96 for the company.