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I Squared May Reportedly Make Buyout Offer to HKBN within Next Few Weeks
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I Squared Capital, a substantial shareholder of HGC, is close to making a takeover bid for HKBN (01310.HK), potentially setting up a bidding war with CHINA MOBILE (00941.HK), Bloomberg, citing people with the knowledge of the matter, reported. I Squared was said to have begun due diligence in December 2024, and is now evaluating the potential synergies of the deal to help determine the offer price, which could be made as early as the next few weeks. In early December 2024, CHINA MOBILE had said it planned to make a buyout offer for HKBN at $5.23 per share, valuing the latter at US$882 million. HKBN's share price shot up $5.5 or 6.4% once this afternoon (14th). It last posted at $5.22, up 0.97%, with 12.6233 million shares traded, involving $66.2058 million. AAStocks Financial News |
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