CPMC (906 HK): Champion Holdings Walks
At the first close , SASAC/NCSSF-backed Champion Holdings failed to secure the 50% acceptance condition. No surprises there. What was a surprise was Champion Holdings letting the Offer lapse.
Champion Holdings could have extended the Offer to the 30th Sept, which would have achieved little. But they could have bumped terms. They did neither.
That leaves ORG Technology Co., Ltd. A (002701 CH) as the sole bidder for CPMC Holdings (906 HK) . And arguably, an unwilling bidder at that.
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