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Toppan Printing Co. said Mon it has set details of tender offer to buy a stake in SNP Corp.
The Tokyo-based company said it will launch tender offer between Tue and Jul 28 and will buy at least 63.30 million SNP shares, or 53.51% of the outstanding shares. It will spend at least Y8.80 billion for the stake purchase.
Report on SNP from S&P
Standard & Poor's Equity Research downgrades SNP to Sell from Buy, noting recent strength in share price following Japanese printing group Toppan's bid to acquire company for $1.76/ share. Suggests investors sell at current levels given weaker near-term outlook for SNP due to rising raw material and labour costs, weaker exports to U.S. Notes offer price translates to forward P/E of 13.3X, which is above sector average. But ups target price to
$1.70 from $1.35, based on 20% premium to its discounted cash flow valuation of $1.41.
well done.... congrats!
jasonrxz ( Date: 09-Jun-2008 17:53) Posted:
Just an infomation to all.....
It have again break new high at 1.63 today despite the so call black monday,.... so what u think if today is a good day?????
something is cooking for sure......
cheers |
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SNP Corp. (S81.SG) +10.1% at multiyear high of S$1.74 in active trade as stock closes in on takeover offer price of S$1.76/share from Japanese publishing group Toppan Printing (7911.TO). "It is at a premium to the market price and appears to us as an attractive offer," says foreign house analyst. Given spike in volume and with share price almost on par with offer price, market appears to be backing deal, especially considering stock's lack of liquidity, unlikely prospect of a rival bid emerging. SNP's major holder, Green Dot Capital, owned by Temasek Holdings (TEMAH.YY), has pledged to sell its entire 53.53% stake to Toppan
Yes,,,,,.... finally the news is here!!!!!
Time to reap some profit and exit... 3 cheers for bros who vested in this counter while it hit 52 weeks high last few session!!!!!
huat ar.....
zhuge_liang ( Date: 11-Jun-2008 00:30) Posted:
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Toppan Printing Co. intends to make a voluntary conditional cash offer to acquire all the issued ordinary shares of SNP at $1.76 per Offer share.
The Offeror believes that the proposed acquisition of the Company will enhance the Offeror’s presence in Greater China, Singapore, the US, Europe and Thailand. More importantly it will add value to the Company and enable it to become a part of one of the world’s largest printing groups, providing the Company with access to “state-of-the-art” technology and global markets. The Offeror believes that the potential acquisition will be complementary to the Offeror’s existing business and will positively impact the Company’s business. |
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Toppan Printing Co. intends to make a voluntary conditional cash offer to acquire all the issued ordinary shares of SNP at $1.76 per Offer share.
The Offeror believes that the proposed acquisition of the Company will enhance the Offeror’s presence in Greater China, Singapore, the US, Europe and Thailand. More importantly it will add value to the Company and enable it to become a part of one of the world’s largest printing groups, providing the Company with access to “state-of-the-art” technology and global markets. The Offeror believes that the potential acquisition will be complementary to the Offeror’s existing business and will positively impact the Company’s business.
SNP rose on speculations of a privatisation. The company had in Apr said substantial shareholder Green Dot Capital was reviewing its options with respect to its stake in the company.
Just an infomation to all.....
It have again break new high at 1.63 today despite the so call black monday,.... so what u think if today is a good day?????
something is cooking for sure......
cheers
Co is 53% owned by Temasek who have been trying to divest for several years as the business does not fall under its core interests.
Co made announcement that some discussion is taking place but there may or may not be any outcome.
Noticed that this stock broke it's own high.....
Should be a good stock to see see look look though... check it out...
not an inducing post to but or sell... just to let Bros here know.....
cheers
