Dyna-Mac rejects Hanwha’s takeover offer
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Dyna-Mac said the offer price needs to factor in the company’s strong financial performance and its current management team’s strategies for further growth.
PHOTO: DYNA-MAC HOLDINGS LTD
SINGAPORE - The controlling estate of listed offshore and marine player Dyna-Mac has rejected the voluntary conditional offer by South Korean-controlled Hanwha Ocean, saying the 60 cents offered was a lowball price.
“Offer price of 60 cents per share was made when Dyna-Mac’s share price was at its lowest point over the previous 35 trading days,” stated a statement from the estate of Mr Lim Tze Jong, the late founder of the company.
