A Singapore-based financial services company, the next biggest lender in Southeast Asia, offered to obtain a Hong Kong bank, the eighth largest lender in the nation, for a superior cost per share. Three months after, a multi-billion hedge fund firm located in the United States had amassed close to 8 per cent of the Hong Kong bank's shares.
OCBC Versus Hedge Fund Acquisition of Wing Hang Bank Case Study Solution
According to the securities law of Hong Kong, the Singapore-based financial institution would need to get 90 per cent of the shares of the Hong Kong bank to successfully take the bank private, and there were just 25 days left for the business to satisfy this requirement. The hedge fund firm's unspoken message was clear: raise your bid price to buy our shares or we will keep the company public at your expense. Emir Hrnji? is affiliated with National University of Singapore. Han Dong is affiliated with National University of Singapore.
PUBLICATION DATE: July 15, 2015 PRODUCT #: W15295-HCB-ENG
This is just an excerpt. This case is about FINANCE & ACCOUNTING
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