Minority sport: Lau takeover bid rests with Bermuda court
Article Abstract:
The Lau brothers' proposal to privatize Chinese Estates Holdings Ltd supported by 78.8% of shareholders who voted will have to be approved by the Bermuda Supreme Court before it can push through. The buyout scheme is contingent on a Scheme of Arrangement (SOA) that is restricted by English laws. British regulations require the concurrence of 90% of the independently held shares before property rights are overruled by obligatory buyout of shares. The SOA failed to get the 90% support of independent shareholders, in part, because of a 32% decrease in asset backing under the scheme.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1992
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Betting on Uncle Sam
Article Abstract:
The US consumer market is showing signs of recovery as consumer spending growth accelerated in Jan and Feb 1992. Orders from industry are at their highest level in three years. Investors are advised to watch the Hongkong stockmarket for direct plays on the windfall from an early US recovery. Machinery and electronics components companies, the Robert Fleming Hongkong Industrial Basket Call Warrants and China "B" shares are forecasted to give good returns.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1992
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Comment about this article or add new information about this topic:
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