Lifestyle China (2136 HK): Thomas Lau's Scheme - The Premium Is Wrong
After Lifestyle China (2136 HK) was suspended pursuant to then Takeovers Code, the takeaway was that Thomas Lau with 74.91% of shares out would table a Scheme.
Which is exactly what unfolded. What was not expected was a stingy 21.7% premium to last close.
The Offer Price has not been declared final. Lifestyle China is trading at 0.11x P/B. This Offer deserves a bump. Otherwise minorities should vote this down.
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