The view from their appointed advisor was that the $0.49 offer was fair but not compelling. In this regard, it is recommending that the shareholders reject the offer. The independent directors also supported the recommendation for shareholders to reject the offer.
The key shareholder, Eltek, was selling as part of its directive to divest non core assets, hence may not be waiting out for the best value - what crap. Wouldn't they be compromising the value to their shareholders?
The offeror, Northstar Group, is a private equity fund manager based in Indonesia and backed by TPG, a US-based Private Equity firm. US Private Equity firms have been setting up base in Singapore with a view of increasing exposure to the SE Asia region. Obviously they see tons of value at $0.49. Private Equity managers ......
