Yashili’s Pre-Condition EGM Approval Secured
326 Views16 Aug 2022 21:10
Arun has highlighted this Insight as a Top Pick
SUMMARY
- Yashili International Holdings (1230 HK) independent shareholders unanimously approved the proposed transactions at the 16 August EGM, a crucial step for China Mengniu Dairy Co (2319 HK)’s HK$1.20 offer.
- The remaining pre-condition is the completion of the 25% Yashili acquisition. The completion conditions suggest that this pre-condition is low risk and will likely be completed soon.
- The value test is only applicable to the scheme. At last close and for a November completion, the gross and annualised spread to the offer is 8.1% and 29.6%, respectively.
Get started on the Smartkarma Research Network with a complimentary Preview Pass to:
- Unlock all research summaries
- Follow top, independent analysts
- Receive personalised alerts and emails
- Access Briefings, Analytics, and Events
Upgrade anytime to our paid plans for full-length research, real-time analyst discussions, and more.
Join a thriving community of 45,000+ investors, including the top global asset managers managing over $13trn in assets.
or
Already have an account? Sign In Now
Discussions
(Paid Plans Only)
- Yashili (1230 HK): Monthly Update Suggests that Pre-Condition Satisfaction in the Final Leg15 Dec 2022
- Merger Arb Mondays (07 Nov) - Yashili, Fengxiang, Kingston, Pendal, Perpetual, ReadyTech, Nitro07 Nov 2022
- Yashili’s Widening Spread Is an Opportunity01 Nov 2022
- Yashili’s Pre-Condition EGM Approval Secured16 Aug 2022
- Yashili’s Pre-Condition EGM Set for 16 August31 Jul 2022
- Yashili’s HK$1.20 Privatisation Offer from Mengniu08 May 2022
- Yashili’s Potential Pre-Conditional Privatisation Offer from Mengniu17 Mar 2022
x