Dyna-Mac rejects Hanwha’s takeover offer

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The story "Dyna-Mac rejects Hanwha’s takeover offer" was covered 5 hours ago by The Straits Times, a news publisher based in Singapore.

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The Straits Times 5h ago

Dyna-Mac rejects Hanwha’s takeover offer - The Straits Times

Quick Summary:

It said the offer price needs to factor in the firm’s strong financial performance and future growth.

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.

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.