Fosun Tourism (1992 HK): Fosun Int'l's Indirect Takeover
When Fosun Tourism (1992 HK), a leisure-focused integrated tourism group, was suspended pursuant to the Takeovers Code, the obvious Offeror, by way of a Scheme, was Fosun International (656 HK)
Not quite. We do have a Scheme, but it's being enacted by way of a buyback. Fosun Int'l still abstains from voting, but will control 100% if the Scheme completes.
The Cancellation Price is $7.80/share (not declared final), a punchy 95% premium to undisturbed. I previously speculated a 100% premium was not out of the question. Clean deal.
Keep reading with a 7-day free trial
Subscribe to Hong Kong/China M&A/Events to keep reading this post and get 7 days of free access to the full post archives.