• Sun
  • Jul 13, 2014
  • Updated: 3:57pm

Kerry Media offers to buy out SCMP

PUBLISHED : Thursday, 20 December, 2007, 12:00am
UPDATED : Thursday, 20 December, 2007, 12:00am

The SCMP Group, the publisher of the South China Morning Post, has said its controlling shareholder has offered to buy out other shareholders at HK$2.75 per share each for as much as HK$2.36 billion to comply with takeover rules. Kerry Media intends to keep SCMP's listing status and does not plan to take it private, the group says. Last Thursday, Kerry Media bought a 3.2 per cent stake in SCMP at HK$2.39 per share, bringing its holding to 44.85 per cent and more than the 2 per cent level that will trigger a mandatory offer under takeover rules.

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