GIC-backed GLP chooses Chinese group's $16b offer in Asia's biggest buyout
14 July, 2017, 14:55
GLP accepted the takeover offer from a management-backed group that includes private equity firms Hillhouse Capital Management and Hopu Investment Management, according to Bloomberg.
The offer price represents an 81% premium over 12-month VWAP and exceeds the highest ever closing price since listing.
SHARES of Global Logistic Properties jumped 22.2 per cent, or 60 Singapore cents, to S$3.30 at 3.02 pm on Friday as trading resumed with a S$3.38 per share offer on the table.
"After an extensive evaluation of all final proposals received, the Special Committee decided on the proposed scheme, which we believe is compelling and value-enhancing for all shareholders", Seek Ngee Huat, chairman of GLP's board, said in a joint statement with the winning consortium.
Buhari calls, writes Akande over wife's death Habib Aruna, described late Omowunmi as an epitome of humility, uprightness and one who was a pillar of support for her husband. Omisore, who was the former deputy to Akande said the death of the ex-first lady of Osun State came to him as a rude shock.
E-commerce companies such as Alibaba Group Holding Ltd. and JD.com Inc. are driving a boom in demand for warehouse space in Asia. GLP's portfolio of customers includes Amazon, Walmart, Unilever and Carrefour. GLP manages almost $40 billion in logistics assets across the U.S., China, Japan and Brazil. It is the second largest in the USA after Prologis. It manages almost US$40 billion in logistics assets-a bit more than half the amount that No. 1 warehouse owner Prologis Inc. of the USA does.
Singapore sovereign wealth fund GIC, which owns a 36.84 per cent stake in GLP, has given an undertaking to support the bid, which will be carried out through a scheme of arrangement. The Singaporean fund instructed the group to be more responsive to bidders' questions and share information transparently in the auction, the people said, asking not to be identified because the discussions were confidential. GLP had embarked on the strategic review last December following a request by its largest shareholder GIC, which owns over a third of the total stake in the company.
In a statement on Friday, GIC said it has provided an undertaking to Nesta Investment to "vote in favour of the scheme" in respect to its shareholding interest.
States could set up a state-run single-payer system or use the money to offset the cost of private health insurance, he said. States would also be able to add the newly eligible Medicaid population to coverage under the block grant funding option.
Supporters of PM Modi had reported the matter to Mumbai Police , which had assured the complainant of action by its cyber wing. On Friday, the posts were referred to the cyber crimes cell after which an FIR was registered against Tanmay Bhat.
These demands could get the Guangzhou resident in trouble but she said it was a way to honour Mr Liu's memory. Berlin had urged Beijing in recent days to let Liu leave China for treatment overseas , possibly in Germany.
We can no longer go on with these huge areas of regional imbalances across the U.K., these areas of unemployment". In return, Mr Barnier gave the Labour leader a 1948 railway tourism poster of his native Savoie region.
The stock was purchased at an average cost of GBX 111 ($1.44) per share, with a total value of £11,100 ($14,378.24). BRF S.A.is a multinational Brazilian firm that owns a diverse portfolio of products and is a producer of foods.
As a part of this latest update, now if users send more than five pics at once, then WhatsApp will now save it in the gallery. So, while typing text in a chat, one can tap and hold to select the text to easily bold, strikethrough , or italicise it.
The carrier will be called easyJetEurope and the headquarters are set to be in Austrian capital Vienna, according to Sky News . Around 30% of easyJet passengers are flying on routes between and within the EU27, not touching the UK.
Highly-rated Italian defender and Juventus first-team star Leonardo Bonucci looks set to complete a shock move to AC Milan . Personal terms have already been agreed between the player and Milan with Bonucci ready to sign a €6million-a-year deal.
Snap has fallen out of favor in recent weeks, as shares of the messaging company recently tumbled below their IPO price . The company reported ($2.31) earnings per share for the quarter, missing the consensus estimate of ($2.05) by $0.26.
Man Utd named third most valuable sports team
Alongside Adidas , the club are sponsored by other big companies such as Chevrolet and 20th Century Fox . United have moved up two places on the list after being named the fifth most valuable team past year .
Hazardous weather outlook issued for thunderstorms
Highs on Friday will be around 71 with a chance of showers, with thunderstorms possible after 3 p.m., NWS says. A chance of showers and thunderstorms will linger overnight, along with mostly cloudy skies.
Area under heat advisory
More comfortable weather arrives on Friday night as a cold front moves through the area and delivers cooler temperatures. Drink plenty of fluids, stay in an air-conditioned room, stay out of the sun and check up on relatives and neighbors.
Xiaomi Redmi 5 with Snapdragon 630 and 4GB RAM leaked
Expandable storage is available on the Redmi Note 4 via a hybrid dual-SIM card configuration, supporting microSD cards (up 128GB). Featuring a polycarbonate body, the Redmi 4A bears a hybrid dual-SIM card slot, and runs MIUI 8 based on Android 6.0 Marshmallow.
Intel Corp (NASDAQ:INTC) Institutional Investor Positioning
Susquehanna Bancshares Inc reissued a "positive" rating on shares of Intel in a research report on Tuesday, March 28th. A number of analysts offered their Estimated Earnings analysis for Intel Corporation (INTC ) for the current quarter.
Infosys shares jump on Q1 results
Over the last two years, the company has built new software including an AI platform, and added multiple new services. Sikka is a former SAP SE top executive, with a Stanford University computer science PhD in artificial intelligence.