Next privatisation stocks?

first time i see independent financial adviser say the takeover offer is too low.
kudos to DMG!


Published July 17, 2012 Eastern Hldgs' offer is too cheap: DMG Minorities advised to reject chairman's privatisation bid By Kenneth Lim print | email this article
MINORITY shareholders of Eastern Holdings should reject the chairman's privatisation bid because the offer is too cheap, said independent financial advisers DMG & Partners Securities.
"From a financial point of view, we are of the opinion that the financial terms of the offer are neither fair nor reasonable," DMG said in a report to the company's independent directors.
Eastern Holdings' independent directors are adopting the advice and asking minority shareholders not to accept the offer by chairman Stephen Tay, who is also a majority shareholder of the company.
Mr Tay on June 11 made an offer through an investment vehicle to acquire all of Eastern Holdings' shares at 18 cents apiece. Mr Tay was deemed to already control about 63.6 per cent of all the outstanding shares

Recommendations  in Circular but what will happen to stock price if the takeover fails?

:

Having regard to the considerations set out in this letter, and subject to the
qualifications and assumptions made herein, from a financial point of view, we are
of the opinion that the financial terms of the Offer are neither fair nor reasonable.
Accordingly, we advise the Independent Directors to recommend Shareholders to
REJECT the Offer.

The Independent Directors, having considered carefully, amongst other things, the terms of the
Offer and the advice given by the IFA in the IFA Letter, concur with the advice of the IFA in respect of the Offer and accordingly, recommend that Shareholders should Reject the Offer.

Suntory Beverage & Food Asia , a unit of Suntory Beverage & Food Ltd., offered to delist Cerebos Pacific Ltd. (CER) in a transaction worth S$364.8 million ($293 million), it said in a statement today.
Suntory, which has about 82.6 percent of Cerebos, offered S$6.60 a share in cash for the remaining 55.3 million shares it doesn’t own in the Singapore maker of food products and health supplements. The price represents a 23 percent premium to the last traded price of S$5.38 on July 30.
Cerebos has a total of 317.3 million shares and additional 2.5 million options granted to employees, according to the statement to the Singapore exchange today.
“The delisting and exit offer will allow the company to realize cost savings by eliminating listing, compliance and other related costs,” according to the statement. As a non- listed company, “Cerebos will enjoy greater operational flexibility and efficiency in implementing its strategic initiatives.”
Cerebos has climbed 8.5 percent this year, compared with the 15 percent advance in the Singapore benchmark Straits Times Index. (FSSTI)

Hersing --- being taken private at 23 cents.

by founder, Mr Chua Wah Eng Harry (“HC”) who is the
Chairman of the Company, a controlling shareholder of the Company by virtue of
his legal ownership of 441,996,220 Shares representing
approximately 70.33% of the existing Shares

Neratel cant get 75% of the total share capital. So the deal is off. All voting will base on the % shares held and not by voting by hand. Imagine 10 shareholders who only hold one lot each(peanuts), against One shareholder who hold 60% of the total share capital.
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[Guest 08-07-2012]:
hmmm... i thought as long as the number of shares supporting is enough will be considered as passed? so what is the correct standard? coz in some EGMs, when the directors cannot get the resolution passed in voting by hand, they will changed to voting by poll which is based on the shares held and normally the resolution will be passed...

LMA INTERNATIONAL -- disposal of its assets at 62 cents.
Announced this morning.