Update: Options exercise triggers mandatory offer
Forterra has received an offer from New Precise Holdings (a wholly owned subsidiary of Nan Fung International) to acquire all outstanding issued units (other than those already owned) at a price of S$1.85 in cash. The offer is a mandatory requirement under the Singapore Code on takeovers and mergers following the exercise of options by New Precise Holdings that increases its holding to slightly more than 30%. An offer document will soon be sent to shareholders and the board will seek the advice of an independent adviser.
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