Cascal disputes “coercive” Sembcorp offer
- From: Vol 11, Issue 5 (May 2010)
- Category: Companies
- Region: Europe
- Country: United Kingdom
- Related Companies: Biwater, Cascal, HSBC and SembCorp Utilities
An unsolicited take-over bid which sent Cascal's stock tumbling in late April has caused a storm. The company is now threatening legal action against its erstwhile parent, Biwater.
When Adrian White was looking to monetise part of Cascal by floating it on the New York Stock Exchange in early 2008, his bankers recommended a share price range of $17.00-$19.00. Now, two of those same banks are playing advisory roles in a deal which is set to relieve White of his remaining 58.5% stake in ...
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