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Global Logistic
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mtan019
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26-Jun-2017 21:36
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I thought BT already mentioned that there are already 3 bidders | ||||
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mintymint
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26-Jun-2017 21:13
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Further down the article, i hope GIC will take note of shareholders' interest as the buyout should take place at a fair value, not at given at a discount. > > > Watch for an Extension to the Sale ProcessIn its statement on Friday, GLP was careful to point out that no result to the sale process is guaranteed and the company is keeping its options open. &ldquo There is no certainty that any proposals will be received or that any definitive transaction will materialize from, or any offer will be made as a result of, any proposals received or the Strategic Review, and there also remains no certainty as to the terms of a transaction (if any),&rdquo GLP noted in the statement. The lack of bidder interest only makes it more difficult for GLP&rsquo s committee to bring a quick conclusion to the sale process. &ldquo Ming Mei thought he had an opportunity to buy out a market leading company at a discount,&rdquo said a senior executive from a regional industrial property developer not participating in the GLP competition . &ldquo But he got too clever, and now they&rsquo re going to have to start the process all over again.&rdquo With questions being raised concerning the potential benefits of the GLP sale to its management versus its returns for the citizens of Singapore who funded the company&rsquo s establishment and growth with their public pension payments into GIC&rsquo s coffers, the negative reviews for the sale process may see the controversy, if not the bidding for the company, continuing to heat up over the summer.
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mintymint
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26-Jun-2017 21:05
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Another interesting article: http://www.mingtiandi.com/real-estate/logistics/glp-halts-trading-amid-allegations-of-a-botched-9-9b-sale-process/ The GLP management&rsquo s link-up with the investment banks is said to have led to a May 2016 bid to buy out GLP at a price of S$2.20 to S$2.30 per share. GLP stock was trading at S$1.81 per share on May 6th, however, that bid was said to have been rejected before being formally presented to the board. In a conversation with Mingtiandi, a GLP spokesperson denied that any such bid had taken place in mid-2016, and the company has made no statements to the stock exchange regarding any offer at that time. GLP Defends Process, Halts Trading Following publication of the Financial Times report, GLP&rsquo s shares dropped more than 10 percent on Friday before company management asked the stock exchange for a halt in trading. In a response to the FT account posted on the company&rsquo s website, GLP struck back at the notion that its sale process was being hijacked by an inside bid. The company noted that, &ldquo the Strategic Review is being overseen by a Special Committee which comprises four independent directors of the Company, with the assistance of J.P. Morgan (S.E.A.) Limited as financial adviser and Allen & Gledhill LLP as legal adviser &rdquo GLP reiterated that its strategic review, which is expected to lead to a sale of the company, is being conducted independently and that it has &ldquo undertaken measures to alleviate potential conflicts of interest and ensure fairness of the process.&rdquo The company also pointed out that it &ldquo remains in discussions with shortlisted bidders,&rdquo without naming those parties. |
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moneyspinner
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26-Jun-2017 21:05
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So, only eventually 2 bidders! Interesting! All others have chicken out.😀
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mintymint
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26-Jun-2017 20:38
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A good read
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mintymint
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26-Jun-2017 20:36
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http://www.mingtiandi.com/real-estate/logistics/does-fang-fengleis-hopu-have-the-inside-track-for-glp/ | ||||
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moneyspinner
Veteran |
26-Jun-2017 12:37
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Don' t see why not as GLP is not a strategic asset. Everything depends on the price. It' s a commercial deal. Aim of the review is to maximise value for all shareholders.
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AndyLoss
Master |
26-Jun-2017 10:49
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will the govt allow key stakes to be handed over to chinese ? | ||||
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moneyspinner
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25-Jun-2017 12:44
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From the composition of the consortium, looks like the Chinese is dead serious to get GLP! Hopefully we can see a good bid price come end June 2017.
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moneyspinner
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25-Jun-2017 12:35
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If oil prices tank to sub USD30 for a prolonged period we can say good bye to the O & G sector especially the smaller companies in Singapore. Things are changing real fast. Everybody is trying to find the cheapest and the most efficient way of doing business be it in energy or otherwise! It' s a very tough environment. | ||||
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sgng123
Supreme |
25-Jun-2017 11:53
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Not much, worse case no deal done glc would just tank 10% again. Brent oil most likely would test 40 dollar nexr few week, if that break all hell break loose. Then it buying time for me in aug to sep period.
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moneyspinner
Veteran |
25-Jun-2017 10:46
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Collect the 6 ct dividend first. The rest talk later. So long as ther are bidders, the game can continue!😉
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ysh2006
Supreme |
25-Jun-2017 10:02
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Money cannot transfer out , NATO govt approval take long long time, so wait long long ! | ||||
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AndyLoss
Master |
25-Jun-2017 09:44
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chinese too powerful now :)
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AndyLoss
Master |
24-Jun-2017 23:10
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20 lots... will see on tuesday... thanks :)
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FATABA
Supreme |
24-Jun-2017 22:34
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I read that Ping An Insurance also join the consortium ( dyodd) If so , the chinese gp is certainly too strong for others.....no wonder they back off lah. Warburgs maybe eventually giving them a gd fight. Certainly bidding getting interesting with more world class bidders.
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sgng123
Supreme |
24-Jun-2017 18:33
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How much u load, don go beyond own means. Good trade coming on second oil fall, mine bullet saving up for it sembcorp, sembmar or keppel corp
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moneyspinner
Veteran |
24-Jun-2017 12:19
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There were 4.192 million GLP shares shorted on June 23, 2017 @ an average price of 2.81. Total trade done on that day was 59.575 million shares. Looks like some BBs were selling yesterday ! | ||||
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tanakow
Member |
24-Jun-2017 09:37
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No $4 no sell.
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AndyLoss
Master |
24-Jun-2017 03:27
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I sold off all of UE made some kopi money and added more to GLP :) - hope this pays off :)
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