PETALING JAYA: Hovid Bhd managing director David Ho Sue San and private equity group TAEL Partners have once again extended the closing date of their takeover offer for Hovid to Dec 29, 2017.
The offer was to have closed on Dec 7 from Dec 4 previously.
Last month, the joint offerers had lowered the acceptance condition threshold but kept the offer price unchanged at 38 sen per share and 20 sen per warrant.
The offer is now conditional on the joint offerers receiving more than 75% of the pharmaceutical company’s shares, including shares already held or acquired.
Previously, the acceptance condition was at least 90% of the offer shares, excluding the ones held by persons acting in concert.
Ho and TAEL Partners (through special-purpose vehicle Fajar Astoria Sdn Bhd) intend to take Hovid private.
Already a subscriber? Log in
Get 20% OFF The Star Digital Access
Cancel anytime. Ad-free. Unlimited access with perks.
