GAPack (468 HK): Hong Kong's Takeovers Code Needs A PUSU Rule
In the UK, once a Bidder is named in a possible offer announcement, the Bidder has 28 days to either announce a firm Offer intention or walk away.
This is known as a 'put up or shut up' or 'PUSU' deadline. Hong Kong's takeover rules has no such provision.
It's ~21 weeks since co-founders Jeff Bi and Gang Hong tabled a non-binding Offer. With no firm Offer in sight, AND contesting a SAMR ruling, they should fold their tent.
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